What is a Bank Trust Department?
Among the financial services that are offered with many banking institutions, there is the bank trust department. Essentially, the function of the bank trust department is to handle the administration of trust funds, provide estate planning support, and in some cases see to the disposition of the estate of a deceased customer. Here is some background on how a bank trust department functions, and why the use of this financial service may be an excellent idea. One of the factors that makes the use of bank trust departments so attractive is that they tend to be somewhat conservative with their management approach. This means that a bank trust department is likely to take time to evaluate all options when involved in settling estates, establishing guardianships, or administering trusts that have been set up for the survivors of a major depositor. This methodical approach is often in line with the motivation for establishing the asset in the first place, which was to provide a source of fin
