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Trust and Wealth Management

When selecting a trustee to administer the wealth that you have built over a lifetime, it is critical that the trustee you select has the experience, impartiality and expertise necessary to efficiently and effectively manage and administer trust assets. Whether to use an individual or corporate trustee to manage your affairs during your lifetime or on your death is an important decision.

The Trust Department of Essex Savings Bank offers a full range of trust services designed to help clients achieve estate planning and wealth management goals. Because Essex Savings Bank is a local, independent community bank, accounts are managed locally by our seasoned staff, which collectively has over 100 years of experience in trusts and estates administration.

Our goal is to develop and maintain long-term relationships with our trust clients. Your trust will be managed in accordance with your wishes expressed in your trust document and with the best interest of your beneficiaries in mind.

Our experienced professionals, working with your legal and financial advisers, can strategize with you about ideas, concepts and techniques to provide flexibility and tax benefits in your estate plan while accomplishing your goals benefiting your beneficiaries for years to come.

Our complete trust and wealth management services include:

• Trust administration and management
• Agent for trustee
• Financial management and bill pay
• Unfunded trust agreements and will appointments as executors
• Life insurance trusts
• Estate plan design and consultation

Management of fiduciary accounts is becoming increasingly complex. The legal duties and responsibilities imposed on a fiduciary are numerous, and the following are some of the important services provided by the Trust Department:

• Account Administration
• Coordination of investment advisor services
• Custody and safekeeping of special assets, such as real estate or personal property
• Collection and remittance of income and/or principal
• Periodic statements of account
• Monitor purchases, sales and other investment activity
• Management of corporate actions such as proxy voting
• Daily investment of income and principal cash balances
• Preparation and filing of state and federal fiduciary income tax returns

 

Investments in stocks, bonds, mutual funds and annuities in fiduciary accounts are not a deposit or other obligation of Essex Savings Bank; are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other federal government agency; and, may involve investment risks,
including, but not limited to, possible loss of value of principal.
 
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