Updated: Jun 17
There are many trust companies to choose from, ranging in size and fees. The larger trust companies provide more products and services but may lack the personal touch of smaller institutions. These trusts generally charge their fees based on a percentage of assets, ranging from 0.25 percent to 2.0 percent, depending on the size of the trust.
The creation of a trust fund establishes a relationship where an appointed fiduciary, or trustee, acts in the sole interest of the grantor. A trust is created for a beneficiary who receives the benefits, such as assets and income, from the trust. The fund can contain nearly any asset imaginable, such as cash, stocks, bonds, property, or other types of financial assets. A single trustee - this can be a person or entity, such as a trust bank—manages the fund in a manner according to the trust fund's stipulations. This usually includes some allowance for living expenses and perhaps educational expenses, such as private school.
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Deposit and Cash Management Services
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