{"id":1858,"date":"2026-10-18T02:53:41","date_gmt":"2026-10-18T02:53:41","guid":{"rendered":"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/what-is-the-difference-between-a-trust-and-a-trust-company\/"},"modified":"2026-11-04T00:57:52","modified_gmt":"2026-11-04T00:57:52","slug":"what-is-the-difference-between-a-trust-and-a-trust-company","status":"publish","type":"page","link":"https:\/\/trustcounsel.com\/resources\/professional-trustee-and-executor-services\/what-is-the-difference-between-a-trust-and-a-trust-company\/","title":{"rendered":"Trust vs. Trust Company in Florida: Key Differences"},"content":{"rendered":"\n
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Florida Trusts & Estates | Coral Gables<\/p>

Trust vs. Trust Company in Florida: Know the Difference Before You Name a Fiduciary<\/h1>

A trust is an arrangement that holds property for the people you name. A trust company is a business that can be named to act as trustee. Here is how the two differ.<\/p>

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By Leslie V. Marenco \u00b7 Published October 17, 2026<\/p>\n\n

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What is the difference between a trust and a trust company? A trust is a legal arrangement that holds property for the people you name. A trust company is a business that can be named to act as trustee.<\/p>\n

The two terms get mixed up because a trust company often appears inside a trust document. This guide explains each term in plain words. Trust Counsel, PL is a Coral Gables, Florida law firm that advises and represents trustees, personal representatives and beneficiaries.<\/p>\n

The short answer: a trust is an arrangement, a trust company is a business<\/h2>\n

A trust is a set of written terms under which a trustee holds property for beneficiaries. A trust company is a separate business, formed under state law, that can serve in that trustee role.<\/p>\n

Florida law uses plain labels for the people involved. The person who creates the trust is the settlor, sometimes called the grantor. \u00a7 736.0103<\/a> defines a settlor as a person who creates or contributes property to a trust. The same section covers a person with a present or future beneficial interest in the trust, and also a person holding a power of appointment over trust property in a capacity other than trustee.<\/p>\n

The confusion starts when a trust company’s name shows up in a parent’s plan. Readers assume the trust is the company. It isn’t. The company can be the trustee, and the trust is the arrangement it manages. The Florida Office of Financial Regulation draws a line between family trust companies<\/a> and non-deposit trust companies<\/a>.<\/p>\n\n

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If a trust document or a trustee nomination leaves you unsure what it means for your family, you don't have to sort it out alone; we can talk it through. Talk it through with Trust Counsel, PL — the first consultation is free, confidential, and carries no obligation.<\/p>

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What a trust is, and why it is not a legal entity<\/h2>\n

A trust is a relationship over property, not a company with owners and an office. It works through its trustee.<\/p>\n

Florida law recognizes three ways to create one. A trust can be made by transferring property to a trustee during the settlor’s life or by will, by declaring that an owner holds identifiable property as trustee, or by exercising a power of appointment in favor of a trustee. \u00a7 736.0401<\/a> lists those methods.<\/p>\n

The trustee holds the property and carries the duties. Once a trustee accepts the role, the trustee must administer the trust in good faith, in accordance with its terms and purposes, the interests of the beneficiaries, and the Florida Trust Code. \u00a7 736.0801<\/a> states that duty. \u00a7 736.0802<\/a> adds that the trustee must act solely in the beneficiaries’ interests.<\/p>\n

Control depends on the trust’s terms. For trusts created under instruments executed after the Florida Trust Code’s effective date, the settlor may revoke or amend the trust unless its terms expressly make it irrevocable, as provided in Fla. Stat. 736.0602(1); trusts created under earlier instruments follow different rules. \u00a7 736.0602<\/a> gives that rule. The trust document is the place to look for how the settlor’s control is described.<\/p>\n

What a trust company is, and how it fits into a trust<\/h2>\n

A trust company is a business that can be named to act as trustee. It is an organization, so it does not die, retire or move away the way a person can.<\/p>\n

The Florida Office of Financial Regulation describes non-deposit trust companies as entities that provide trustee and estate administration services.<\/p>\n

Florida law also lets some trust companies act as personal representatives. \u00a7 733.305<\/a> says trust companies incorporated under Florida law, and certain banks authorized to exercise fiduciary powers in Florida, are entitled to act as personal representatives. A personal representative (often called an executor) handles a probate estate.<\/p>\n

A trust company’s role still follows the trust document. Naming a company does not change the trust’s terms or the trustee’s duties. For how professional trustees are used in Florida estate plans, see our professional trustee services page.<\/p>\n

Trust compared with trust company, side by side<\/h2>\n

A trust is the arrangement, and a trust company is one possible trustee for it. Here is how the two differ.<\/p>\n