Trusts, Estates, and Agency Accounts

This industry comprises legal entities, trusts, estates, or agency accounts, administered on behalf of the beneficiaries under the terms of a trust agreement, will, or agency agreement. Illustrative Examples: Bankruptcy estates Private estates (i.e., administering on behalf of beneficiaries) Personal investment trusts Testamentary trusts

Managing portfolios of trusts--are classified in Industry 523940, Portfolio Management and Investment Advice; Administering personal estates--are classified in U.S. Industry 523991, Trust, Fiduciary, and Custody Activities; and Operating businesses of trusts and bankruptcy estates--are classified according to the kind of business operated.