Money in offshore trust

[santosg]

If someone has like $50 million+ usd in an offshore trust that a third party is managing for them, what would the offshore trust look like then if the money isnt in some bank then? Lets say that the amount was $500 million+ usd, where would the money actually be located if its in some offshore trust then again assuming theres no bank connection whatsoever...? Would any of you guys happen to know?

 

[Mr Magoo]

normally money in a trust is held in a bank account in name of the trust. For holding other assets like real estate you dont need a bank account.

 

[Sols]

Why wouldn't there be a bank account involved? You'd place the money in a bank account controlled by the trustee. Then under the conditions stipulated in the trust agreement, the beneficiary or beneficiaries would be entitled to the funds.

 

[CaptK]

Money is either in the bank, in assets or in cash.

The hypotheticals in this question are confusing.

Join the Mentor Group and give us a proper explanation.

 

[santosg]

Money is either in the bank, in assets or in cash.

The hypotheticals in this question are confusing.

Join the Mentor Group and give us a proper explanation.

Whats so special about the mentor group?

 

[CaptK]

Whats so special about the mentor group?

Go there and find out, that's why a lot of us pay the money to be in it. You will learn a trick or two in there.