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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References in periodicals archive ?
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.
Getting Older without Family: Addressing Personal, Legal, and Financial Concerns
We frequently counsel clients to name someone else--a bank trust department, a trusted professional, or a different family member--as trustee.
Special needs trusts: how much trouble are they to manage? Trusts are wonderfully flexible planning devices--but that does mean you have to do the planning
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.
Frank Fletcher Jr
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.
Investigations of financial institutions
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.
Gibraltar Capital Management: James Redman, principal
Setting up a Custodial Trust Agreement with a medical claim paying service eliminates the high minimum fees of a bank trust department.
Settlements: Preserving claimants' benefits
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.
Total return trusts: why didn't we think of that?
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.
Where there's a will
Types of clients: Closely held businesses; bank trust department; wealthy individuals.
How to make the most of a small firm
Conversely, a small bank trust department handling mostly small portfolios may lack the resources necessary to direct a larger or more complex trust.
Who's the perfect trustee?
Marvin Abeene, senior vice president, trust officer, and manager of the Commercial Bank trust department described the Combined Capital Trust.
Commercial Bancorp earns its trusts

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