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What is the difference between a trust and a trust company?
Corporate trustees are in the business of managing trusts and, therefore, manage many trusts at once. Consequently, a corporate trustee may not be able to provide the personalized attention that a close family member could.
What is a trust corporation?
Corporate Trust covers the business activities of banks that act in a fiduciary capacity for investors in a particular security. Any national bank or federal savings association that performs transfer agent functions for securities registered under Section 12 of the Exchange Act, must register with the OCC.
What is the purpose of a trust company?
Companies have more regulatory requirements, such as the need to hold annual general meetings and keep minutes of directors meetings, etc. In contrast, family trusts have fewer regulatory requirements, but they still require ongoing management and compliance to ensure they are structured correctly.
What is a corporate trust company?
A trust company serves as trustee for a trust and manages the trust assets on behalf of its clients, according to the terms of the trust. Trust companies provide a wide range of services, all in one place, and therefore offer a convenient way for individuals and entities to manage their financial affairs.
What is the difference between a corporate trust and a family trust?
Although trusts often have an individual assigned as the trustee, a trust company can also act in that capacity. For example, a trust company can be a successor trustee for a trust when there are no financially responsible family members available to take on that role.
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Trust Company Directors
Active List of Trust Companies Directors ; First Private Trust Corporation, 1750 Clearview Parkway, Suite 200, Metairie, LA ; First Private Trust Corporation
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