I recently purchased the book “Wealth Guardian”. It is a great
resource and well written, except for one point. I noticed two statements in
the text that appear to contradict each other.On page 77, the book states “It is the Trustee that has legal ownership of a
Trust’s assets”
On page 78, the book states “While a Trustee doesn’t own the trust’s
assets…..”Which statement is correct? Can anyone clarify this or let me know if I am not
interpreting the text correctly.I do have an additional question which is related to the above. If the
Trustee owns the Trusts assets as stated on page 77, does this mean that the
bank account that is used to conduct the business of the Trust (for example
rental payments, paying maintenance service providers, etc), should be in
the name of the Trustee? Or is a bank account opened in the name of the
Trust?
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