"zxcvar" <arouth[at]radiology.umsmed.edu> wrote in message
news:f0e5a6c.0402021828.76b58ce2[at]posting.google.com...
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Here are two I'm familiar with.

http://www.ctcdelaware.com/

http://www.trustamerica.com/

These two work only with qualified investment advisors, so you'll need to
hire one.

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://members.cox.net/brentdgardner1378/

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

Many thanks for the reply. How can one can find an independent trust
company? With thanks.

"Brent D. Gardner, ChFC" <bgardner20[at]cox.net> wrote in message news:<oAATb.14909$ay1.4573[at]okepread05> ...
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"zxcvar" <arouth[at]radiology.umsmed.edu> wrote in message
news:f0e5a6c.0402012052.54b91998[at]posting.google.com...
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The real problem here is you have your investment advisor and your corporate
trustee under the same roof.

It is often better to select an independent trust company that does not
manage money. That's my opinion, but it's based on over a decade of
observing what banks do with smaller trust accounts, when they have the
power to do as they see fit when it comes to investment advisor selection.
In my practice, we select independent trust companies that do not compete
with the investment advisor, and I have their legal counsel draft the trust
with flexibility in selection of both trustee and investment advisor.

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://members.cox.net/brentdgardner1378/

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

zxcvar wrote:

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Officially, the answer is that if a trustee is not following
the terms of the trust, as a beneficiary you would likely
have legal standing to bring an action in the court that has
jurisdiction over the trust for damages and other relief to
get the trust back to its terms.

Now, that said, legal action is expensive and time
consuming--and you first need an attorney to look at the
situation and tell you whether you truly have a case. Now,
if the bank is just blatantly violating the trust that's one
thing--but if that isn't so clear (and I suspect it isn't)
then you have to deal with the risk of litigation, as well
as you becoming potentially responsible for paying for all
costs of the litigation, either directly (bank gets court to
award it legal fees) or indirectly (if the bank prevails,
the expenses of fighting the claim would likely be
considered legitimate expenses to be charged to the trust).

I would also note that what may appear "clear" to you as a
violation may not appear clear to a third party. By a clear
violation I mean something like this:

1. Trust provides that trust corpus shall only be invested
in securities directly issued by the United States
government and grants no discretion to the trustee under any
circumstances to vary those investments.

2. Trustee instead invests all assets in a stock mutual
fund that the bank manages.

If it's not that clear, then you have a lot bigger hill to
climb. Remember, the person that set up the trust
specifically delegated the decisions on investing to the
trustee and *NOT* to you.

--
Ed Zollars, CPA
Phoenix, Arizona

In article <f0e5a6c.0402012052.54b91998[at]posting.google.com> ,
arouth[at]radiology.umsmed.edu (zxcvar) wrote:

- quote -

This is one of the problems that occurs when you have a corporate Trustee

It may be too late for you but my Trust allows one of the beneficiaries
to replace the bank chosen by another bank.
--
Avrum Lapin avrum113[at]earthlink.net
Upland CA Remove NOSPAM from address

Greetings! I am told that trust department of our local bank [who is a
trustee of my assets] is not following the instructions of the trust.
Trust dept is investing money in investments where the trust dept will
receive maximum commission. How one can make the trust dept to invest
money according to the strict instructions? With thanks.