Any arguments against using a corporate trustee?

[Guest Fauxqui]

Aside from possible cost issues, which I have found to be minimal, are there any valid arguments against using a corporate trustee?

[Kirk Maldonado]

A good corporate trustee won't let the plan engage in all of the flaky, highly questionable investments that an individual trustee would. I had one plan that invested plan assets in race horses and bull semen.

[AndyH]

Years ago I had one who's assets consisted solely of accrued interest and principal payments on loans and a 1948 Pontiac.

[RCK]

I had a terminating plan with a single asset-- a lovely seaside cottage in Ireland.

Am I glad that the statute of limitations is up on that one.

RCK

[Mike Preston]

My wife tells the story of a plan that she dealt with that had a significant investment in alpacas.

[Kirk Maldonado]

I once had a client whose retirement plan was invested in racehorses and bull semen.

[MoJo]

The vertical side of a cliff (not the top or the bottom, but just the part that goes vertical...). We sold it, but the hardest part was getting a surveyor to give us a legal description.....

[Fredman]

Kirk...at least they diversified their investments! Maybe we can give Mr. Miller his thread back and start a new one under the humor board and let people add some more to this list. I want to see if someone can beat Kirk's.