a bank as trustee

Discussion in 'Chit Chat' started by stephenszpak, Sep 28, 2007.

  1. You should be able to have the money invested wherever you like.
  2. Thanks. A meeting will be occuring shortly with the
    financial people there (2 guys apparently). No one has
    yet said that the money can be put wherever we want
    as yet however.

  3. Banjo


    The bank will probably come up with a plan that includes investments they get an unspoken kickback on, mutual funds etc. Ask them very deliberately if they benefit in any fashion from fees, commission, soft dollars, referals etc. from any of the proposed investments.
  4. Thanks. That is something to remember.

    What I'm thinking about is 3 month CDs. This bank has
    them. That way there is no reasonable possibility of any
    financial loss. To me, and those going to meet with the
    financial planners, the main thing is NOT to increase the
    amount in the trust but to make sure the trust amount
    remains the same or increases slightly.
    The current beneficiary could still get
    nice sized checks.

    I'm just wondering what will happen. The trustee is now
    this bank. Maybe the bank will just say "This is how it's going
    to be and this is what are fees will be. There isn't anything
    more to discuss."