Ally Bank Offers Competitive Trust Account Products
New online resource guide provides step-by-step instructions to establish a trust account
MIDVALE, Utah - Ally Bank today announced the launch of an online resource guide designed to provide information for individuals and families about trust accounts, an important tool in the overall estate planning process. In addition to information about Ally Bank deposit products ideally suited for trusts, the new resource guide, available at www.ally.com/learn/trust-account/, provides straightforward steps to open an account for growing trust assets.
“Many people work a lifetime to build a nest egg for retirement that will allow them to pass along their assets to loved ones and beneficiaries,” said Diane Morais, Ally Bank deposits and line of business integration executive. “However, many often overlook the importance of making sure they have incorporated their bank accounts into their estate planning strategy.”
Individuals and families – regardless of net worth – can provide funds for their beneficiaries by establishing a trust. Among the benefits of a trust is the potential ability to avoid probate – thereby saving time, court fees and possibly reducing the estate tax liability.
“As the economy stabilizes and Americans aim to grow their personal investments, Ally Bank suggests that savers protect the assets they have worked so hard to attain,” Morais continued. “Trusts can protect their legacies, and Ally Bank offers accounts for estates of any size and most kinds of trusts.”
When evaluating deposit account options for trusts, trustees should look for accounts that offer competitive interest rates and stable growth. An additional benefit is that accounts for trusts at Member FDIC banks such as Ally Bank are insured up to at least $250,000.
A direct bank with a straightforward approach to banking and 24/7 live customer service, Ally Bank has an array of deposit products ideally suited for trusts, such as:
• High Yield CDs
• No Penalty CD
• Raise Your Rate CDs
• Money Market Accounts
• Online Savings and Checking Accounts
“With no monthly maintenance fees, no minimum deposit and daily compound interest, consumers will find many direct banking products to be an ideal fit for a comprehensive financial plan,” said Morais.
Consulting with a qualified attorney and a personal financial adviser is always advisable as part of the trust or estate planning process.
About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years, and IRA Plans and products. Member FDIC.
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