Trust company

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Trust company

An organization that acts as a fiduciary and administers trusts.

Trust Company

A company, usually a division of a bank or brokerage, that acts as a trustee. In this relationship, one party, known as the trustor, gives to the trustee the right to hold and invest assets or property on behalf of a third party, known as the beneficiary. Most trusts exist to provide for the financial future of a minor child or mentally incompetent person, or may benefit charitable organizations. Many trusts are exempt from taxation on money given to the beneficiary, but trust companies may charge a fee in order to administer the assets. See also: Trust.
References in periodicals archive ?
All four business lines of Fiserv ISS continue to be committed to the institutional-only policy practiced by all four trust companies.
The Trust Company provides a full range of fiduciary trust and administrative services to clients such as ERISA plans, pension and profit sharing plans, insurance companies, separate accounts and other institutional and individual trust companies.
We were able to demonstrate that trust companies don't have to conform to straight-from-the-box standards anymore, you really can have a trust and wealth management system configured to fill your firm's - and your clients' - specific needs.
Mazorol is a member of the Minnesota State and Hennepin County Bar associations, and the Association of Independent Trust Companies.