Thread Starter: Anonymous
Title: Re: In Trust For?
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I have a fun one.
We have an attorney (John Doe) that wants to open an account titled: John Doe, In trust for the Estate of Jane Doe.
The attorney received a check that is titled this way. What paperwork would we need? The check is very substantial (over $1 million) and we need to make sure we get this right.
He currently has an indemnity agreement and that is about it...
My concern is that he would have sole control over this account, or at least this is my general understanding. I understand that he is acting in a fiduciary capacity and would be responsible for reporting/accounting for all the transactions that take place on the account, but I feel like we would need more documentation than just the check.
Anyone have any ideas??
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