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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Re: Trusts & IRAs Date: 12/16/2012 3:04 PM
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Since your assets are in the trust additional paperwork in the form of a power of attorney wouldn't be required.

My experience is that should be "Since your assets are in the trust additional paperwork in the form of a power of attorney shouldn't be required."

When dealing with the affairs of a disabled person under this paperwork, you must present the documents to each institution and have them reviewed by their attorney. Sometimes your attorney must intervene to explain the paperwork and its intention. The institution's attorney will decide if business will be conducted by the trustee or the designated POA individual or some modification is needed.

It does not work as it theoretically should in the textbooks. Expect to be hassled at every step. Expect every transaction to take extra time.
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