Sometimes A really does equal A. You, the trustee, actually accept your role as an officer to help to cure the disposition of an estate when its progenitor dies. You are essentially the human escrow account, acting on behalf of the beneficiaries. Do they receive the helicopter that was willed to them, or do you dump it on eBay and simply wire them the proceeds? Welcome to the office of being in the office of a trustee.
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Finance: What is Escrow?7 Views
Finance a la shmoop what is escrow so leave it to the French they'll cook and [Man and woman cooking food]
eat anything horse hoof pig snout and yes finally snail but wait that's
different oh okay well escrow is a financial state
of being akin to the pearly gates where st. Peter is a you know checking you out [St Peter appears in the clouds]
there's a transaction a contract a whole bunch of signatures a commitment and
then a holding time our waiting period or cooling period will the transaction
be allowed through the gates or in Dante fashion will it be sent back to the pits
of hell to be renegotiated fixed or suffer eternal damnation yeah those are
the questions escrow is that special place where your dough hangs out until [Escrow definition appears on 100 dollar bill]
the grander powers that be decide whether or not that dough can be you
know shoveled along forward selling your home well it's likely the buyer first
puts their dough into an escrow account which only gets released to you once [money transfers into a piggy bank]
those pesky socialist termites have been eradicated by Clint Eastwood and if the
termites win well you won't be able to afford cooked snail any time soon and
we'll just put it that way so its escrow your money just kind of sits there until [Escrow piggy bank waiting at traffic lights]
gets a green light all the contracts are signed everything's good then the money
just wires into your bank account and then you can move on with life
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