Agency & Power of Attorney

Agency Accounts

In an agency account, the Trust department can act on your behalf with different types of authority based on your needs and goals. Currently, State Bank of Graymont can act with the following authorities:

• Investment Consulting Authority 
  
• Investment Management Authority 
  
• Custodial Authority 
  
• Custodial Authority (authority of outside investment agent)
  

No matter what type of agency account, the title to the assets will continue to be registered under the name of the property owner, who is often referred to as the Principal. The function of the agency account can also vary from, as simple as receipt of income and payment of bills to assisting with estate administration (estate agency).

Power of Attorney

A power of attorney is a signed written document that an individual appoints someone else, such as a family member or friend or, in our case, State Bank of Graymont, to act under certain specified circumstances. By naming State Bank of Graymont as Power of Attorney for finances, it removes the responsibility from the family member or friend and allows them to spend more time with the individual. If at any time the individual became incapacitated or no longer competent, the Trust Department would take over. To make this process operate efficiently, it is wise to make the Trust Department aware of the arrangement and keep them informed of any changes that occur, in regards to finances.

State Bank of Graymont has full Trust powers. For more information, contact our Trust Officers, Jennifer Nagle in Pontiac and Ron Minnaert in Graymont, or our Assistant Trust Officers, Ashley Ralph in Pontiac and Paul Russow in Graymont. 

NOT-FDIC-INSURED
NO BANK GUARANTEE
MAY GO DOWN IN VALUE
NOT A DEPOSIT
NOT INSURED BY ANY GOVERNMENT AGENCY