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Leaving money to kids in a trust (or not)
here is just a thought for you. make one trust. put the grandkids as the beneficiaries. each of them with equal shares, if you like. trustee can be whatever group of parents you choose. buy a nice residential house for 500-600 (whatever you want to give to the grandkids). distribute all...- TrustUser
- Post #8
- Forum: Wills, Trusts and Estate Planning
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Health Care Proxy/Appointment of Care Representative
not sure which state you are in ? in california we have what is called a health care directive, where you state all your wishes, as well as naming your health care attorney, and as many backups as you want. the health care attorney is the same as your proxy, from what i can tell- TrustUser
- Post #4
- Forum: Wills, Trusts and Estate Planning
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Beneficiary Of My Grandmothers Will
thanks adj for such an informative reply- TrustUser
- Post #3
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
managers will most always find ways of making money with the money !! but when the person they are managing for does not seem to be able to have a clue as to where all this money is going, the manager is bound to become even more creative. in almost all cases, greed grows larger with time...- TrustUser
- Post #41
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
let us know how it all turns out. there is little doubt in my mind that there is a lot of hanky panky going on. too many dollars to play with. and no one to be accountable to.- TrustUser
- Post #39
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
the op's trust was gonna survive after the death of the grantor. it is absolutely a ridiculous oversight not to put in instructions for hiring and firing a trustee. i am hoping that whoever the op talks to, he will have some way of tackling this issue. with ones that i create, i always give...- TrustUser
- Post #37
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
thanks for your input. when i was just in the research stage, looking at trust documents on the net - that was always there. perhaps i am overestimating the number of documents that actually have this in them ? it is such a basic thing, that it is simply difficult for me to imagine how it...- TrustUser
- Post #35
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
gosh, you're kidding ? nothing about how to remove and select a trustee ? this is such a basic trust paragraph, that it is difficult for me to realize that your trust does not have one. i am glad you are seeking advice. do you actually have a copy of the trust that you can take to someone to...- TrustUser
- Post #31
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
do you have a copy of the trust document ? any decent trust document spells out how a trustee is hired and fired. i would be interested to see exactly what your document says, regarding this. but there is a lot of money in your trust, and it seems to me a lot being taken out. i would take...- TrustUser
- Post #25
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
i realize that you think you have no say, and that may be true. but someone with a lot of experience in something may be able to come up with something of which the both of us are unaware. in other words, one never knows what he doesnt know !!- TrustUser
- Post #23
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
taxing matters has not yet chimed in. hopefully he will have something positive to add to the discussion, giving you an option that might give you some sort of control over the situation.- TrustUser
- Post #21
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
big entities do whatever they can get away with - you are the only person on your side. you have no control over the trustee, and you seem to have very little to say about the accountability of the trust. and there is a lot of money in it, from which a lot of other people can benefit. nothing...- TrustUser
- Post #20
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
does a bear blank in the woods ? banks are private businesses. and the bigger the business, the more corrupt. and in case you dont know, the fed is not a united states organization, despite its american sounding name- TrustUser
- Post #18
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
since trump took over and before covid, the stock market skyrocketed. are you telling me that you did not make any money during that time ?- TrustUser
- Post #16
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
that is also the time when professional trustees are most apt to be crooked - they know you dont have any control of the situation. hopefully some of the others here on the site can be helpful with possible avenues for you. good luck.- TrustUser
- Post #9
- Forum: Wills, Trusts and Estate Planning
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What do banks do with money being held in a trust?
i havent dealt with a bank in 30 years. many are crooked as hell. my experience with professional trustees is piss poor, from what i can tell. if you have any power to appoint the trustee, i would make that change ASAP- TrustUser
- Post #7
- Forum: Wills, Trusts and Estate Planning
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Illininois Do will or trust? I'm 78 and about done. grown children equally split beneficiaries, no asset except money I rent apartment. Divorced.
with regards to a beneficiary - make sure you can have 3 beneficiaries. at least at the time, my credit unions could only have 1 beneficiary - it wasnt a problem for me, cuz now everything is in trust if that cant be done, you could always set up 3 bank accounts, and keep relatively similar...- TrustUser
- Post #4
- Forum: Wills, Trusts and Estate Planning
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US equivalent to a deed of variation?
you knew i was teasing ??- TrustUser
- Post #26
- Forum: Wills, Trusts and Estate Planning
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US equivalent to a deed of variation?
hey tm, are you seriously stating that the tax law may change in the future ????????? LOL- TrustUser
- Post #24
- Forum: Wills, Trusts and Estate Planning
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US equivalent to a deed of variation?
hi tm, i guess what i am getting at is that it is possible for someone to allow someone else to decide who gets what. had never heard of it, or even thought about it !! so had the aunt discussed it with her brother, she could have written it up, such that her brother have the situation...- TrustUser
- Post #20
- Forum: Wills, Trusts and Estate Planning
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