advantages of availing the services of trust companies compared to individuals such as lawyers and or banks.
2006-09-01 18:16:52 · 4 answers · asked by jdr 1 in Business & Finance ➔ Corporations
Trust companies are bonded, lawyers and banks are not. The only protection in a bank is the F.D.I.C. The trust companies are duly authorized by laws and governmental agencies to carry out their business with customers, being one of the safest institutions in the USA. In the event you see a bank and trust company, they carry on duel purposes.
2006-09-09 14:34:42 · answer #1 · answered by Calvin of China, PhD 6 · 0⤊ 0⤋
I assume you mean as trustees and/or executors of wills. Banks and trust companies can be lumped in the same category: very expensive and overly conservative.
The trouble is finding a trustworthy individual or individuals. Even a Harvard-trained lawyer can be a crook, or incompetent: http://snurl.com/weisler
Ideally, one can make life easy for one or two trustworthy family members working as trustees, and they can invest in an index fund or, say, Berkshire Hathaway.
But your query is unclear. And most lawyers and individuals are unqualified to act as trustees anyway: it's a matter of luck if you have someone in mind. (The very wealthy can afford professional staff; I am referring to a fund of a few million dollars or less.)
2006-09-01 18:24:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
how much does a Administration Assistant make in Norfolk Virginia with a bachelor degree?
2006-09-09 12:01:14 · answer #3 · answered by sandra w 1 · 0⤊ 0⤋
Better expertise, because that's what they specialize in...but all in all...any source is better than the headache of handling the assets yourself.
2006-09-01 18:55:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋