Company, often a commercial bank, acting as trustee for individuals and businesses and providing related financial or estate-planning services. Trust services for individuals commonly include the administration of estates, living trusts (trusts that become effective during the lifetimes of their makers, or settlors), and testamentary trusts (trusts originating in a will). Services for businesses include the administration of corporate bond indentures and corporate pension funds. Trust companies may also serve as corporate stock registrars and as paying agents for the distribution of dividends.
This entry comes from Encyclopædia Britannica Concise.
For the full entry on trust company, visit Britannica.com.
Seen & Heard
What made you look up trust company? Please tell us what you were reading, watching or discussing that led you here.