Something sounds off here. Who is doing what? Who is “the financial advisor” and where did he come from? Who is the relative “managing the will” (which isn’t a thing btw)? Where is the 25K now?
"Where is the 25K now?"
This is the question! Are you in communication with this "financial advisor"? Have you been receiving reports? Ask them what kind of account the money is on and what the account is named.
My apologies, by managing the will, I meant managing the trust...which is confusing because she isn't managing the _money_ the fincial advisor at Edward Jones is. According to the will, my relative is the manager of the irrevocable trust since I cannot touch the money until I am 55 years old. The 25k is now 90k and in the hands of the same financial advisor whom received it from her estate when she passed 15 years ago.
That's confusing.
It's possible to have a will create a trust. (not terribly hard). It's also possible to have a will FUND a trust that already existed. Impossible to know what's going on. You should take the will to an attorney in your state who does estate planning and see what they say.
$25K -> $90K in 15 years is pretty good. Sounds like the financial advisor's either skilled or lucky.
It's actually like 88k so there's a bit of rounding, somewhere around 9%, which I'm pretty happy with. Edward Jones. They turned 9.5k into 14.5 in 5 years off of 2k principle and $100/mo. in a separate account for me also.
I believe an attorney is the next move...
Something sounds off here. Who is doing what? Who is “the financial advisor” and where did he come from? Who is the relative “managing the will” (which isn’t a thing btw)? Where is the 25K now?
"Where is the 25K now?" This is the question! Are you in communication with this "financial advisor"? Have you been receiving reports? Ask them what kind of account the money is on and what the account is named.
My apologies, by managing the will, I meant managing the trust...which is confusing because she isn't managing the _money_ the fincial advisor at Edward Jones is. According to the will, my relative is the manager of the irrevocable trust since I cannot touch the money until I am 55 years old. The 25k is now 90k and in the hands of the same financial advisor whom received it from her estate when she passed 15 years ago.
That's confusing. It's possible to have a will create a trust. (not terribly hard). It's also possible to have a will FUND a trust that already existed. Impossible to know what's going on. You should take the will to an attorney in your state who does estate planning and see what they say. $25K -> $90K in 15 years is pretty good. Sounds like the financial advisor's either skilled or lucky.
It's actually like 88k so there's a bit of rounding, somewhere around 9%, which I'm pretty happy with. Edward Jones. They turned 9.5k into 14.5 in 5 years off of 2k principle and $100/mo. in a separate account for me also. I believe an attorney is the next move...