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What is meant by a passive custodian?

custodian meant passive
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What is meant by a passive custodian?

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A passive custodian is one that does not offer investment, legal or tax advice. When utilizing a passive custodian, you will never have to worry about conflicts of interest with respect to a custodian. However you will still need to be aware of, and avoid conflicts of interest that could arise relative to third party individuals and entities (especially family members) regarding the investment decisions of the IRA. This type of passive trustee arrangement allows you the ability to use your knowledge and expertise to prepare for your retirement.

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