Can A Trustee Be A Custodian? The custodian is usually a bank, but can be a credit union, a stock brokerage or another organization that stores money or financial instruments for its account holders. A trustee can also be the custodian of the trust accounts, such as a bank that serves as a trustee and
Who Can Be Trustee? The only legal requirement in California for a person to be a trustee is that she or he is at least 18 years old and “of sound mind.” The Trustee must also be a U.S. citizen to avoid adverse tax consequences. Can anyone be a trustee? Who Can Be a Trustee?
Is A Trust Company A Corporation? A trust company is a separate corporate entity owned by a bank or other financial institution, law firm, or independent partnership. A trust is an arrangement that allows a third party or trustee to hold assets or property for a beneficiary or beneficiaries. Is a trust considered a corporation?