Trust Accounts

A trust account is a financial arrangement where funds are held by a third party—such as a lawyer, real estate agent, or financial institution—on behalf of another person or organization. The money is managed according to specific instructions and is intended for a particular purpose, like paying a client or a vendor. Trust accounts ensure the funds are protected and used only for their designated purpose, providing security and transparency. They are commonly used in legal, real estate, and financial transactions to prevent misuse and safeguard client interests.