Taxes

• Tax Planning
  Your Local Trust Administrator: Discuss the day-to-day operation of your trust with your administrator, as well as year-end tax planning, gifting and estate planning strategies.
• Roth IRA
  Allows only non-deductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Qualified distributions of earnings from a ROTH IRA are not subject to federal income taxes. We offer various terms for traditional or ROTH IRAs.¹
• Income Tax

Investment

• Investment Management
  Our Senior Portfolio Manager, Marcelino “Manny” Pendas has a BBA in Finance and Master’s in Accounting from Florida International University. He has over 35 years of experience working with some of the largest international financial institutions assisting ultra-high net worth families with their fiduciary and investment management needs.
• Bonds
• Wealth Management
  Since 1956, affluent South Floridians have relied on the enduring presence of First National Bank of South Miami’s Trust and Wealth Management Department to reach their financial and philanthropic goals. As a trustee, we dedicate ourselves to the protection and preservation of your assets, paying scrupulous attention to the details of your trust. While maintaining objectivity, we have the necessary experience to exercise discretion and make tough decisions on your behalf.

Accounting

• Accounting Services

Planning

• Financial Planning
  Pablo Rodriguez has been FNBSM’s Chief Financial Officer since 2003. Mr. Rodriguez oversees the Bank’s accounting, tax, treasury and financial planning/analysis functions. He is the chairman of the Bank’s Asset/Liability Committee and a member of various other Bank committees.
• Asset Management
  Along with our consultants Wright Investor Services he works with clients to design and implement asset allocation strategies and financial plans that meet their unique circumstances, risk tolerance, goals and objectives.
• Living Trusts
  Living trusts are created for as many reasons as there are individuals with diverse objectives and requirements. The living trust is designed to provide care and security to the living and provides a post mortem estate plan and schedule to meet the wishes of the grantor. In so doing, tax savings may be derived, families are provided for, wealth is preserved, and uncertainty is avoided.