Bank trust department

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.
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The trustee can also be a bank trust department, which can be expensive but is a good option for an elderly person with substantial resources but no individual to serve as the trustee.
According to its latest 13F filing with the Securities and Exchange Commission (SEC), MB Financial Bank Trust Department increased its stake in Gilead Sciences, Inc.
We frequently counsel clients to name someone else--a bank trust department, a trusted professional, or a different family member--as trustee.
After the Army, he worked nights at Shakers Pizza Parlor and days at Worthen Bank Trust department while Judy taught 12th grade at North Little Rock High School.
Finally, and presumably because of resource limitations, federal and state bank regulators have emphasized the commercial operations of banks in their examination activities, as opposed to bank trust department operations where most employee benefit plan assets are held and where most abusive practices relating to employee benefit plans occur.
A Chartered Financial Analyst, Redman got his start as a portfolio manager with a bank trust department. Later he helped run geoPLUS Corp., a software company serving the gas and oil industry.
Setting up a Custodial Trust Agreement with a medical claim paying service eliminates the high minimum fees of a bank trust department.
The restatement imposes standards of care that a trustee must observe in selecting and supervising agents and in determining the scope of delegation.[11] While a trustee may engage an advisor such as a bank trust department, it can be argued that the trustee may not delegate the entire investment function.[12] The trustee has a duty of due diligence to investigate the proposed manager.
After your death, he says, "He or she probably will be too distraught to act effectively." Antonini also recommends that you skip having a corporate entity, such as a bank trust department, take on the role.
Types of clients: Closely held businesses; bank trust department; wealthy individuals.
Conversely, a small bank trust department handling mostly small portfolios may lack the resources necessary to direct a larger or more complex trust.
Marvin Abeene, senior vice president, trust officer, and manager of the Commercial Bank trust department described the Combined Capital Trust.