Product and Services

Trust and investment services are not just for those with considerable wealth. Anyone with valuable assets from insurance benefits, real estate, and financial accounts to automobiles and even jewelry can benefit from having a trust or investment account. Below is a list of the types of products and services we offer as well as the benefits of each.

Custody Account

The Custody Account aides the client, who does not require investment advice, in the day-to-day transactions and recordkeeping of his/her portfolio. The Bank administers all the detail work such as collection and disbursement of income, execution of sales and purchases of securities as directed by the customer, providing transaction statements and asset inventory, custody, and safekeeping of securities.

Benefits:
• Provides the customer a convenient and time saving way to coordinate all financial assets into one location.
• Professional execution of trades.
• Safety—provides peace of mind that the bank is safekeeping the assets.
• Complete recordkeeping for tax purposes.
• Cash management through daily money market funds.

Guardianship

The bank acts as a financial guardian and oversees the care of the property and expenditures of an incompetent person or minor while managing all of his or her financial affairs.

Benefits:
• Professional financial management and administration.
• Provide periodic accountings to Probate Court.
• Monitoring and approving payment of expenses.
• Peace of mind in knowing that the property of a loved one is protected.
• Complete records for accounting and tax purposes.

Estate Planning and Will Review

The Bank can provide an analysis of the client’s estate planning needs.

Benefits:
• Maximum utilization of personal assets.
• Availability of a broad spectrum of professional expertise.
• Tax savings and asset transfer strategies.
• Identification of personal estate planning objectives.

Living Trust

A Living Trust administers trust property for the client as specified by the terms of the trust agreement. The Living Trust is very flexible, allowing the grantor complete control, while receiving the trust department’s investment help during his/her lifetime. The trust may continue for the benefit of his/her family or in the case of incapacity.

Benefits:
• Flexibility and control. You may add or remove assets at any time, amend, transfer, or terminate the relationship.
• Professional management of assets.
• Custody of assets, collection, and disbursement of income.
• Assures continuity of financial management in the event of illness or incapacity.
• Avoids probate of assets.
• May permit significant estate tax savings while providing for family.
• May provide for ultimate disposition of personal assets.

IRA (Rollovers and Transfers)

Individual Retirement Accounts (IRAs) provide post-retirement investment planning of tax-deferred accumulations from retirement plans. Clients can rollover 401(k) assets, other qualified retirement plan assets, or an IRA held at another institution into an IRA to be professionally managed. A widow can extend the tax deferred savings of their deceased spouse’s IRA into a spousal IRA for themselves. Investment planning consists of designing a portfolio of securities to accomplish the client’s retirement objective. The Bank administers the account and meets with the client periodically to discuss tax and payment options.

Benefits:
• Professional investment of funds.
• Diversification of investments.
• Current accumulation is tax-deferred until funds are distributed.
• Distribution of funds in an orderly and efficient manner based on IRS options the customer may choose.

Investment Agency Account

Investment Agency Accounts provide individual portfolio management in accordance with the objectives of the owner. The Bank, as agent, performs the following services: custody of assets, recordkeeping, collection and disbursement of income, receipt of capital changes including stock dividends, exchanges, splits, etc. The bank will purchase and sell securities in accordance with the client’s objectives. The client may direct the Bank to manage his/her investments or provide investment advice for his or her final approval before buying or selling investments for their account.

Benefits:
• Professional investment management and/or advice.
• Individual investment program tailored to meet client objectives.
• Complete accounting and record keeping for tax purposes.
• Collection and disbursement of income.
• Safekeeping of securities.

Testamentary Trusts

Testamentary Trusts administer property for the benefit of named individuals as specified by the terms of the will. A trust created in a will receives the person’s assets upon settlement of his/her estate. This trust relieves family members of the burden of investment management, protects the decedent’s assets, and assures final distribution of assets to the intended heirs.

Benefits:
• Peace of mind that comes from knowing a trusted professional will be looking after one’s family’s interests after his/her death.
• Professional management of assets.
• Impartial third party to invest and distribute income and/or sprincipal to beneficiaries.
• Protection of assets against inexperience.
• Recordkeeping.

For more information on Trust Services, please contact:

Jonathan N. Perry, CFP®
Managing Director
(919) 557-4592
jonathan.perry@fidelitybanknc.com

Susan P. Greeson
Trust Advisor
(336) 993-3176
susan.greeson@fidelitybanknc.com

John D. Fisher
Trust Officer
(919) 557-4593
john.fisher@fidelitybanknc.com