What is the name of the department within a bank that manages trust funds and estate planning?

The department within a bank that manages trust funds and estate planning is known as the Trust Department. This department specializes in overseeing fiduciary relationships in which the bank acts as a trustee on behalf of clients, helping them manage their wealth and estate. The Trust Department ensures that assets are preserved, invested wisely, and distributed according to the client's wishes after their passing or during their lifetime if stipulated.

Services typically provided by the Trust Department include administering trusts, managing wills, and providing advice on estate planning strategies. This can include tax considerations, retirement planning, and ensuring that beneficiaries receive their designated shares in accordance with the terms of the trust or estate. As a specialized area within banking, the Trust Department requires professionals who are knowledgeable about legal and financial aspects of trusts and estates, enabling them to provide tailored services to clients.