QUESTION
Can I as trustee of estate bank account invest the money that is to be split up amongst the other two beneficiaries since there is a couple years wait
Asked on May 28th, 2021 on Estate Planning - Arkansas
More details to this question:
Dads will says no money to be paid until we are 40. We have a trust account set up as a business trust account in which my name is on for i am the trustee and executor of will. So instead of that money sitting in a checking account for next 5-10 years can i invest it into the stock.market? Thru the business trust account?
1 ANSWER
2 Awards
That depends on what the trust says, what state law says and how willing you are to risk the other beneficiaries suing you if you lose money. Consult a local attorney who handles trust administration.
Answered on May 29th, 2021 at 5:28 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.