Part of a bank engaged in settling estates, administering trusts and guardianships, and performing agency services. As part of its personal and estate planning services, it manages investments for large accounts; typically those with at least $50,000 in assets. People who cannot or do not want to make investment decisions are commonly bank trust department clients. Known for their conservative investment philosophy, such departments have custody over billions of dollars, making them a major factor in the movement of stock and bond prices. Among other things, the departments also act as trustee for corporate bonds, administer pension and profit-sharing plans, and functions as transfer agents.