Trust Products and Services
Ballston Spa National Bank's investment philosophy, and indeed our customer service focus, is achieving the unique objectives of each of our clients. BSNB Trust professionals have the expertise and the experience to properly and consistently perform the responsibilities of a trusted advisor. We offer the advantage of established systems and procedures and continuity of personnel to insure the financial security of your loved ones today and for years to come.
Investment Management
Our investment management services are designed to go beyond the normal buy/sell stockbroker concept. We provide full portfolio management for securities and recommend asset changes to meet your specific income and tax objectives. Continual supervision of the securities ensures that cash is always invested and assets are always working for the customer.
Retirement Plans
We help you design a retirement program appropriate for your business. Your choices include profit sharing, money purchase or 401k plans. We will help both you and your employees choose the right investment direction to successfully reach their retirement goals.
IRAs, SEPs, SARSEPs
Whether you are just beginning to save for retirement or are leaving a company with an existing plan, we will help you to continue saving while you watch your money grow.
Living Trusts
This flexible account provides investment management and has the capability to protect your financial and personal well-being if you should become incapacitated. The Trust Officer is a working partner with you and is always available to handle financial and investment needs to achieve your personal investment objectives. Living Trusts can continue after death to provide management continuity and avoid probate of the trust assets. For additional protection, we can also act as Trustee for your Testamentary Trust under your Will.
Custody
We act as your financial secretary and bookkeeper. You retain all responsibility for making investment decisions. We hold assets for safekeeping, collect interest and dividends, keep accurate records, make all accountings and provide comprehensive account statements. This service is also included as part of our Investment Management and Living trust services.
Bill Paying Services
Let us take over your daily financial affairs such as paying household bills and estimated tax payments. We can tailor this service to your individual needs in combination with Custody, Investment Management or Trust Accounts.
Personal Representative/Executor
As Personal Representative/Executor, we provide complete settlement of a decedent's estate. Working in partnership with CPAs and attorneys, probate, federal and state reports, payment of debts and taxes, and all administrative duties are provided. We also develop a strategy for postmortem tax planning. In addition, we can serve as agent for another person who has been named Personal Representative/Executor of a decedent's estate. For more information on choosing the right Personal Representative, click here.
Estate and Financial Planning
We will help you to develop a financial plan that will protect your assets, and your family. We review Wills and explain the potential consequences of estate, gift and inheritance taxes. We also present an overview of asset titling and property distribution pursuant to state and federal laws.
- Not insured by the FDIC
- Not a deposit or other obligation of, or guaranteed by, the depository institution
- Subject to investment risks, including possible loss of the principal amount invested
To inquire about any of these services, please call us at 518-363-8698.