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Had to post again to ask a serious question
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<blockquote data-quote="susiestar" data-source="post: 717796" data-attributes="member: 1233"><p>Did you ask him why he suggested to not use a credit union? I am curious about that because often a credit union can offer advantages to a bank. But credit unions are not always insured, it depends on certain things.</p><p></p><p>It is good your lawyer is someone you like and trust so much. Go with him as you are comfortable with him. I was mostly just curious about the credit union thing.</p><p></p><p>You may want to consider one thing my grandparents did. My grandpa and grandma moved to FL around the time I was born. They were concerned about the number of con artists preying on the elderly and did not want to ever fall victim. They put their funds into a trust. They had it set up so that they worked with a bank as the trust officer. They had some flexibility as to how much they got per month, etc... and if they wanted to move or anything big, that took quite a bit of work and notice. I am sure they had the money in the bank to go buy most any house they wanted for cash, but with the trust they had to do paperwork and wait a certain amount of time. This was so that the investment or property or whatever could be checked out by the bank. If it didn't check out properly, the bank would not authorize it. </p><p></p><p>This might be a way to safeguard your money so that you are not vulnerable as you travel. Trust accounts don't have to have huge amounts. I used to think that you had to have huge sums to set them up, but you don't. Ask for information on them at the banks you speak to. Even if it isn't as convenient, the extra protection might be very useful. It can also be very handy with taxes, I think.</p></blockquote><p></p>
[QUOTE="susiestar, post: 717796, member: 1233"] Did you ask him why he suggested to not use a credit union? I am curious about that because often a credit union can offer advantages to a bank. But credit unions are not always insured, it depends on certain things. It is good your lawyer is someone you like and trust so much. Go with him as you are comfortable with him. I was mostly just curious about the credit union thing. You may want to consider one thing my grandparents did. My grandpa and grandma moved to FL around the time I was born. They were concerned about the number of con artists preying on the elderly and did not want to ever fall victim. They put their funds into a trust. They had it set up so that they worked with a bank as the trust officer. They had some flexibility as to how much they got per month, etc... and if they wanted to move or anything big, that took quite a bit of work and notice. I am sure they had the money in the bank to go buy most any house they wanted for cash, but with the trust they had to do paperwork and wait a certain amount of time. This was so that the investment or property or whatever could be checked out by the bank. If it didn't check out properly, the bank would not authorize it. This might be a way to safeguard your money so that you are not vulnerable as you travel. Trust accounts don't have to have huge amounts. I used to think that you had to have huge sums to set them up, but you don't. Ask for information on them at the banks you speak to. Even if it isn't as convenient, the extra protection might be very useful. It can also be very handy with taxes, I think. [/QUOTE]
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