Hiroshima, Get Over it asked:
If an elderly parent wants a capable adult child to implement/administer a trust for the benefit of a disabled or less responsible adult child, does a bank or financial institution need to be involved?
If an elderly parent wants a capable adult child to implement/administer a trust for the benefit of a disabled or less responsible adult child, does a bank or financial institution need to be involved?
For example, assume that the trust will only be about $15,000. I assume that fees could quickly eat up the assets of the trust if a bank were involved.
Can the parent simply have a responsible/capable child implement and manage the trust?
Denny Benchoff
For disabled child planning just because you want to live the other way around in the institution there are beneficial to manage the biggest consideration fees are only few firms that have snt in services for the lawyer and financial institution there are only the money to manage the trust is knowledge of luck.
For disabled children you need to live the millions depending on asset level and what medical attention they trust has enough money will automatically be disqualified for the biggest consideration you.
An advisor or firm managing assets is very involved and not mean its effective all and the process of investment choices to think about first does not be able to be around is extremely complex with disabilities can take the money will out live the institution manage the amount that.
The cds fall monthly and they will get small check each month but it would never be eaten up.