Personal Trust Management
As Trustee, The Bennington State Bank will act as your financial agent. Our duties as Trustee include gathering and safeguarding assets, making appropriate tax filings, bill paying, record keeping, collecting interest and dividends, investing your portfolio, and ensuring that you and your heirs are taken care of following your exact instructions.
You may take advantage of our portfolio management service by opening an investment management agency account with our Trust Department. We will review your goals and develop a portfolio to suit your individual needs. Additionally, we will handle all the record keeping and provide you and your accountant a year end tax summary to simplify your personal taxes.
Will and Probate Administration
Many times our customers rely on the Bank to administer their last will and testament. By naming The Bennington State Bank as executor, you are relieving your family members of this burdensome and time consuming task. We will follow your exact instructions and complete the distribution of your assets to your heirs in a timely manner.
Employee Benefit Services
The Bennington State Bank is willing to serve as Trustee and investment manager of your companies employee retirement plan. We will assist you from setting up the plan initially to educating your employees about how the plan works and what it means to them.
As custodian, The Bennington State Bank handles all the record keeping of your financial transactions. With this type of account, all investments will be made only at your direction. Transactions may be made with any broker or fund family of your choosing. At year-end, you will receive one statement and one tax document relating to the assets in your account. There is no longer a need for that shoebox or grocery sack to collect your tax documents, they will all be include on one statement from the Bank.