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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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.
A Chartered Financial Analyst, Redman got his start as a portfolio manager with a bank trust department.
Setting up a Custodial Trust Agreement with a medical claim paying service eliminates the high minimum fees of a bank trust department.
Antonini also recommends that you skip having a corporate entity, such as a bank trust department, take on the role.
Those of us who have served bank trust department clients know that trust officers frequently call to check as to propriety before taking action; the self-declared trustee adopted his or her trust to avoid dealing with an attorney
Signature Life designs retirement savings plans that can be modified to fit the needs of any business, and for less than if the business went to a bank trust department or other investment managers.
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.
The trust company or bank trust department has no authority or right to change the terms before or after the death of the maker of the trust.
Certain evidentiary issues arise when a third-party custodian, such as a bank trust department, provides services related to an entity's investments, including maintaining custody of or investing assets.
Koch has also worked as a Managing Director for a large institutional money manager, bank trust department and as a financial analyst for a mutual fund complex.