Trust & Asset Management
OceanFirst Bank through its Trust and Asset Management department has fiduciary powers which enables it to provide customers with investment management, trust administration and estate administration services. The Bank works in conjunction with its strategic partner, Addison Capital, to manage custom portfolios for individuals, business owners, non-profit organizations, and endowment funds. In addition, the Bank has the ability to serve in the capacity as an Executor or Trustee in a Last Will and Testament, testamentary trusts, revocable and irrevocable trusts, charitable trusts and special needs trusts. All accounts and portfolios are tailored to the specific needs of each client based on sound, proven investment principles.
OceanFirst Bank can serve as trustee and administer a variety of trusts in accordance with Federal and State law including:
• Revocable Trusts
• Irrevocable Trusts
• Testamentary Trusts
• Special Needs Trusts
• Charitable Remainder Trusts
A fiduciary is a person or organization who holds a legal or ethical relationship of trust, and prudently takes care of money or other assets for another person, by acting on that individual’s behalf.
OceanFirst Bank has the ability to serve as an Executor/Trustee. OceanFirst also offers investment management services.
OceanFirst Bank can serve as Executor or Agent for Executor in accordance with Federal and State law.
As an Executor, OceanFirst will carry out the instructions of the Testator and oversee the administrative duties, tax accountings and management of assets until final distributions are made to the beneficiaries.
As an Agent for Executor, OceanFirst can take care of most estate administrative and asset management tasks, such as marshalling assets, arranging for payment of debts and expenses, executing securities transactions, recordkeeping and post-mortem planning for the estate and its beneficiaries.
There are several reasons you may want to consider an estate plan. A well-crafted plan can protect your assets, keep your assets out of probate and provide safeguards to ensure they are distributed as you intended. It will also minimize any potential disagreement between designated beneficiaries.
Addison Capital is an independent and privately-owned, fee-only Registered Investment Advisor (RIA) based in the metropolitan Philadelphia area. Addison serves as a Strategic Partner and Outsourced Chief Investment Officer for the Trust and Asset Management Department.