Lawrence Davidow set up an irrevocable trust for me many years ago. About 5 years ago I chose to downsize. My house was sold and a condo was purchased, which is now in the trust. In addition, the remaining money from the sale of the house was put into a checking account in the name of the trust. It is in a commercial bank, receiving practically no interest. I understand that money can be invested and can receive interest. I would like it to go into a CD at a different bank with higher interest rates. Can the trustee (my daughter) write a check from the account to purchase the CD at another bank, or is there a different mechanism required to move this money? Thanks so much for your very informative letters and for responding to my query.
YES! It is that easy!
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