Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#111737 - 09/03/03 07:07 PM informal trust accounts
Anonymous
Unregistered

can a customer set one of their accounts up as
"itf" a church, can a church be a beneficiary???


Return to Top
#111738 - 09/11/03 09:29 PM Re: informal trust accounts
Anonymous
Unregistered

I'm not aware of any restrictions that would prevent them from doing so.

Return to Top
#111739 - 10/16/03 10:09 PM Re: informal trust accounts
BBoyd Offline
Diamond Poster
BBoyd
Joined: Mar 2002
Posts: 2,494
MI
It might have an impact on FDIC coverage, if that's a concern, as the church would not be a "qualified" beneficiary; funds would be insured along with other individually owned funds of the person.
_________________________
Opinions are mine and never to be taken as legal advice!

Return to Top