A trust account is a special type of bank account used to hold funds on behalf of another person or entity. These accounts are often used by professionals, such as lawyers or real estate agents, to manage client money securely. The funds in a trust account are kept separate from the professional's personal or business funds to ensure proper handling and accountability. Trust accounts are governed by specific laws and regulations to protect the interests of the beneficiaries. For example, when a lawyer manages a client's money in a trust account, they must follow strict guidelines to ensure that the funds are used only for the intended purpose, maintaining transparency and trust in the financial relationship.