The term account in trust refers to a financial account opened by an individual and managed by a designated trustee for the benefit of a third party per agreed-upon terms. The trustee who manages ...

What Is a Trust Checking Account? A trust checking account is a bank account held by a trust, allowing trustees to pay incidental expenses and disperse assets to beneficiaries after a settlor's death.

Banks often have hidden fees in trust accounts, so it’s important to read the fine print. Trust officers play a key role in managing your trust account and can be a valuable resource.

Sometimes, trusts need a place to put cash. That’s where a trust account comes in. Trust bank accounts hold trust funds and may earn interest, cover expenses or simply store money for the trust.

SolStock / Getty Images Both ABLE accounts and supplemental needs trust (SNT), also known as supplemental needs trusts, allow the accumulation of resources for the benefit of an individual with a ...