How are Trustees Certified, And Can a Trustee Reliably Guard A Deposit?
Different trustees are certified by different standards, and some trustees are not certified at all. Therefore, be very careful when choosing a trustee. Or in other words, caveat emptor. Ideally your professional trustee will deposit title to your asset in a safe deposit box at an independent bank. However, in certain circumstances it may be sufficient for your professional trustee to guard your deposit in a private safe, vault, or warehouse on private property. As a further safeguard, ask your trustee about available insurance in the event your asset is stolen, damaged, or lost. You will also want your chosen trustee to maintain strict procedures for printing certificates and releasing deposited assets.
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