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Bank Trust Department |
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Bank trust department Bank department that deals with estates, administers trusts, and provides services such as estate planning advice to its clients. Bank Trust Department A division of a bank that administers trusts, guardianships, and estates. It also may serve as a trustee for certain corporate bonds and pensions. Importantly, a bank trust department may manage the assets of customers who request it to do so. This is most often utilized by elderly persons with no next of kin, who allow the bank to handle their finances in case of illness and/or incapacity. Bank trust departments tend to be conservative and risk-averse in their investment decisions, making them attractive money managers to certain investors. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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