 |
|
Custodial Services
Sterling Bank will safe keep your assets and perform the administrative duties associated with
them - income collection, reinvestment and/or distribution, collection and reinvestment of maturity proceeds and
record-keeping services.
Escrow Services
As escrow agent, we will safe keep documents and securities, collect payments
under contract and hold funds according to escrow agreements. We can also act as
intermediary for tax-deferred real estate exchanges.
Investment Management Services
We work with Sterling’s Investment Services advisory team to offer personalized
portfolio management solutions customized to your investment goals. These services
can include Sterling Bank making those investment decisions for you or
Sterling acting as an agent, while you may maintain the investment authority.
Investment Philosophy
We are committed to providing our customers with an investment solution customized
to meeting their goals and needs. To achieve this, we have selected a professional
investment management firm to provide a variety of investment solutions.
Your administrator will work with you to determine which program best
suits your needs.
Trustee Services
In a time when our society has become overactive in litigation judgments, it is
reassuring to know that trust assets are protected from creditors and claims and
provide a tax-efficient transfer of wealth.
Sterling Bank can act as your corporate trustee or co-trustee for a variety of trusts
in which we can serve your investment and administrative needs. Services include
detailed record keeping, corresponding tax filing/collection and reinvestment of
income. We also offer a continual review of assets to ensure conformity with your
goals. You are assured continuity in the administration of your trusts even after it
is passed to the next generation.
Types of Trust
Living Trusts
- Established during your lifetime
- Bank acts as trustee performing duties defined in the trust
- Investments and real property managed according to your instructions
- May be revocable or irrevocable depending on client wishes
Testamentary Trust
- Created out of will after probate
- Bank acts as trustee or co-trustee as defined in will
- Services may be similar to living trusts, however, beneficiary and
remainder beneficiary issues are strictly monitored
Charitable Remainder Trust
- Irrevocable trust that pays a fixed amount or annual percentage of
income to one or more specified individuals, then transfers balance to
specified charity or charities
- Allows you to convert to low-basis stock or real estate into lifetime
income without having to pay capital gains tax or estate tax
Foundations/Endowments
- Established from a Charitable Remainder Trust or by a Charitable Grant
- Bank may act as agent or custodian and may provide investment advisory
services
Sterling can refer you to an attorney for the preparation of trust documents.
Funds Transfer Agent Agreement (FTAA)
Our FTAA Service allows energy marketers to concentrate on the deal making
between the producer/supplier and the buyer, while Sterling handles the transfer of
funds to all parties. Ask for a brochure with details.
With each of the services described above, we provide detailed quarterly
statements showing activity and current valuations of the investment portfolio.
We also provide an annual statement, which includes concise reports designed to assist
in the preparation of tax filings.
These services can be provided individually or combined to provide a
complete financial plan which best meets your individual needs. We can
also combine relationships and produce individual and/or consolidated
reports as needed.
|
|
|
|
