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Thread: Trusts -- do you really need to have one?

  1. #51
    Senior Member razz's Avatar
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    That is why I keep my assets consolidated with one CU institution and we review every year at least. i go to the same accountant every year to do my taxes, maintain my financial records and review any changes. I kept my will very simple to two children equally and their spouses and the grandchild.

    Nothing elaborate, just very simple. No debts.

    I even have both kids on my iPhone as my emergency contacts in case I am unable to make decisions and my neighbours and my kids have each other's phone contacts.

    I keep monitoring these types of threads to ensure that I am not overlooking anything.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  2. #52
    Senior Member iris lilies's Avatar
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    Ugh IF ONLY I could have one financial institution! Hell I would be pleased getting our number down to 3.

    It won’t happen while DH is still alive. For instance when his father died we inherited accounts at two more Edward Jones offices. In the same damn town! Cwazy! Eventually we will be able to close out one of these.

  3. #53
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    There is no way we could/would have one financial institution. We keep cash that needs to be easily accessible local and would never consider investing at a bank or credit union. Their interests are to sell you products that have large fees, loads etc. We would also never do business with an Edward Jones type of place for the same reason. YLMV. We have 3 places where money is stashed and easy to maneuver.

  4. #54
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    Quote Originally Posted by iris lilies View Post
    For instance when his father died we inherited accounts at two more Edward Jones offices. In the same damn town! Cwazy! Eventually we will be able to close out one of these.
    What is preventing you moving both accounts to the same local office, or combining them into a single account?

  5. #55
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by GeorgeParker View Post
    What is preventing you moving both accounts to the same local office, or combining them into a single account?
    Account #1 holds DH’s family trust which will be paid out one of these days when the lawyers get it straight. Then is will be closed so there is no point in changing something that will end.

    Account #2 is the corporate partnership account DH and his siblings will have.That will go on for a while, out of state from us.

    And then there is our own .Ed Jones account.

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