What department of a bank is likely to manage money for minors, especially those who have received an inheritance?

The trust department of a bank is specifically designed to handle the management of assets and funds for individuals who may not be able to manage them on their own, such as minors. When minors receive an inheritance, their financial needs often require oversight and management until they reach the age of majority. The trust department is equipped to create and maintain trusts, invest funds prudently, and make distributions according to the terms of the trust agreement, ensuring that the interests of the minor are protected and that funds are used appropriately.

This department specializes in fiduciary responsibilities, which means it acts on behalf of the minors to manage their financial assets wisely. The trust department has the necessary expertise to navigate legal requirements and investment strategies, making it the most suitable choice for managing money for minors, particularly in the context of inheritance.