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Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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Let's say my 8 year old son is getting a check soon, as

Customer Question

Let's say my 8 year old son is getting a check soon, as a beneficiary of a life insurance policy in Canada for about $200,000. Can I set up a new Trust Bank Account in the U.S. and make my son a beneficiary, and deposit the check into my TRUST account in the U.S. and hold it for him, and/or make investments or purchases as a Trustee? Are there any other things of consideration I should be aware of or concerned about before moving forward?
Submitted: 9 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 9 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Please understand something most customers misunderstand or do not know, the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Looking at your past history you have not done so and as such your previous experts have not received credit for time spent with you and as such that could impair your ability to get future answers. Please go back and attend to that for us. Thank you.
Have you been named as court ordered guardian over the child's property yet?
Customer: replied 9 months ago.
Expert:  Law Educator, Esq. replied 9 months ago.
Please attend to your other open questions before we can proceed.
Also, you said "yes" so you have a court order saying you specifically are guardian over the property of the minor (not just guardianship of the minor's person)?
Customer: replied 9 months ago.
let me get back to you
Expert:  Law Educator, Esq. replied 9 months ago.
Thank you. Let me know as it is important.

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