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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11563
Experience:  30 years as a practising solicitor.
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We are about to have a Trust Fund package made up by a

Resolved Question:

We are about to have a Trust Fund package made up by a Private Firm of 8 years standing.They propose to keep our legal documents until our death. My worry is what will happen if they go bankrupt in the meantime. As we are in our 80's we need to know we are doing the right thing. Would appreciate your answer.

Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
Typically, these companies would have contingency plans in the event of insolvency. You have to ask them for specification of what happens in that event.
In other words ask them the straight question, "What happens in the event of your insolvency?"
If the answer is unsatisfactory don't use them.
You are clearly concerns about this and rightly so. It may or may not cost more but I suggest you consider using a solicitor which will afford you the protection you seek.
I hope this helps.
Please leave a positive response so that I am credited for my time.
Customer: replied 2 years ago.

thank you for advice we will now give the matter our serious consideration

Expert:  JGM replied 2 years ago.
You're welcome. Don't forget to leave positive feedback on the system so that I am credited for my time.
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