What is a trust company?

A trust company is an entity that helps people manage their finances and estate planning in a way that supports their wishes. In California, trusts may be established by individuals, couples, or families for any purpose, including preserving and protecting assets, providing for family members or charities, or reducing taxes. In California, trust companies are licensed and regulated by the California Department of Business Oversight. Trust companies are appointed by the settlor, or creator of the trust, to oversee and manage funds and other trust assets. They may also provide estate planning and tax advice or act as a trustee, custodian, or executor of the trust. Trust companies typically use a combination of trust management software, accounts, and services to track trust funds and investments, manage assets, and ensure compliance with laws and regulations. Trust companies are important to ensure that the trustor’s wishes are honored and that the trust assets remain secure. They also provide advice and assistance to ensure that the trust is administered properly and that the trust beneficiaries’ interests are protected. Generally, trust company services are charged at a fee to the trustor, while some fees are paid by trust beneficiaries. Trust companies are a critical part of the estate planning process and offer valuable services in California.

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