My question involves estate proceedings in the state of: Georgia
Does a beneficiary of a trust which appoints a bank as an independent trustee have the right to decide which funds the trust is invested in? The bank may select funds with a high expense ratio and even impose a fee for active management; can the beneficiary request that the funds be invested in certain items and remain that way permanently to eliminate the active management fees?
If not, what actions must I take to eliminate these fees? I am open to transferring the account elsewhere, but I would imagine that may be a great deal of trouble. Still, I prefer to keep my 1% or whatever is charged for active management and stay in an index fund for the long haul with an expense ratio of .04%.
Does a beneficiary of a trust which appoints a bank as an independent trustee have the right to decide which funds the trust is invested in? The bank may select funds with a high expense ratio and even impose a fee for active management; can the beneficiary request that the funds be invested in certain items and remain that way permanently to eliminate the active management fees?
If not, what actions must I take to eliminate these fees? I am open to transferring the account elsewhere, but I would imagine that may be a great deal of trouble. Still, I prefer to keep my 1% or whatever is charged for active management and stay in an index fund for the long haul with an expense ratio of .04%.
Trust Administration: Does a Trust Beneficiary Have the Right to Control How Trust Assets are Invested
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