My father has taken money we have inherited from my mother's family and invested it wisely for the past 30 years. Both my sibling and I each have trusts in the 900K to 1.1mil range (we both try to pretend it doesn't exist). As my father is getting older, he wants to hand over management of the trust to a professional he's worked with at foundation he's volunteered for. He's doing this as he's getting up in age and has concerns about continuation of management after he's gone. I don't have much say in the management since I have no control until I turn 35 next year. My sibling has already turned 35 and could veto this idea but I doubt they will.
My father isn't even 100% sure what fees the new manager will charge. He's just so happy that he found someone he feels he can trust to take this over. The manager has his own firm...so at least he won't be pushing the high commission products, but I'm not convinced his fee will be worth it. I could play along for however long my father lives (I don't want to think about that). He doesn't have any major health problems but he is in his mid 80s. Is it worth it trying to push back on this decision now?
Edit: why the downvotes, anything I can change to make this better? I realize I'm incredibly lucky to be in this situation and I just want to be making responsible decisions.
Submitted June 20, 2018 at 10:44AM by TrustPFthrowaway https://ift.tt/2K0v3Yf
