By Investment U Research Team When you get into the world of estate planning, you’re likely to become familiar with the concept of trusts and trustees. What is an account in trust? In simplest terms, it’s an account that’s opened for and belongs to one person, managed by a different entity (the trustee) on behalf of a third party.
You’ve probably heard of trust funds or trust accounts in the context of parents passing wealth to their children. And while this is one great use of these types of accounts, it’s far from the only opportunity to make use of an account in trust.
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