Disadvantages of a Blind Trust?

Reply #1

drhymes74 — Fri, 30 Jul 2010 18:15:49 GMT

Some states don't allow blind trusts. Identity of those benefitting from the trust will be revealed in states that require this to be public information.

The key to any trust is to take the ownership out of your hands so if you do get sued, it isn't part of the assets. The trustee has a fiduciary responsibility to ensure that the trust is taken care of. It is like a retirement plan through work, while the account values can go up and down, the company sponsoring the plan can get sued and the... [ More ]

Disadvantages of a Blind Trust?

ttech10 — Fri, 30 Jul 2010 04:48:24 GMT

So I was reading through some old stories earlier about lottery winners using Blind Trusts to claim their winnings anonymously. It got me thinking about all those that don't choose to accept this way and why they don't. For those that don't know, here's the major advantage of a Blind Trust.

A Blind Trust will hide your identity from long lost relatives , actual relatives that are either untrustworthy or very greedy, keep your friends/coworkers unaware and thus preserving your relationshi... [ More ]