docmark
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| million dollar question |
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My father in law left my wife a million dollar trust fund being managed by a bank. It is supposed to be managed for her benefit but the bank is niggardly and conservative, making only 3.66% on the money.
She is sixty years old. Say she lives another forty years and wants the fund to go to zero at her death. How much should the bank disburse to her a year?
Is there anything we can do to force this Connecticut bank to dummy up the money her father intended her to have?
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Sun Oct 09, 2011 11:59 am |
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braje
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Location: Anchorage AK
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quote:
She is sixty years old. Say she lives another forty years and wants the fund to go to zero at her death. How much should the bank disburse to her a year?
I come up with just shy of 48,000 per year if it earns a constant 3.66%
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Sun Oct 23, 2011 8:51 pm |
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globaldoc2001
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I believe this question would be best answered by the bank itself. People here might get mistaken, and since many people here do not come from your country or your area, the rates might probably differ. It is still best if you would go to the bank and inquire about this.
Business Tax Filing
Debt Consolidation Companies
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Mon Oct 24, 2011 12:50 pm |
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littleroc02us
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Not sure what the trust says, did it come with instructions on how the person wanted it distributed?
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Thu Nov 17, 2011 3:47 pm |
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oldguy
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A standard lifetime annuity, bought for a million today, pays $56,400/yr for life for a 60-yr-old female.
So that would be 5.64%. Actually, that is probably about what the bank is getting - and then that are charging a 2% management fee leaving you with the 3.66%. Too bad it is with a bank, they are notorious for high fees.
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Thu Nov 17, 2011 6:49 pm |
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