Trust Company (Noun)
Meaning
An organization (usually with a commercial bank) that is engaged as a trustee or fiduciary or agent in handling trust funds or estates of custodial arrangements or stock transfers or related services.
Classification
Nouns denoting groupings of people or objects.
Examples
- The trust company was appointed as the executor of the deceased person's estate to manage and distribute the assets according to the will.
- A trust company can act as a custodian for the assets of a minor until they reach the age of majority.
- The family set up a trust company to manage their wealth and ensure it was passed down to future generations.
- The trust company was responsible for handling the stock transfers and ensuring that all transactions were carried out smoothly.
- The commercial bank partnered with a trust company to offer its clients a range of fiduciary services, including estate planning and asset management.