Ownership of funds:In an FBO account, the funds are legally owned by the beneficiaries, not by the account holder (the business managing the account). Account holders act as a fiduciary, meaning they have a legal responsibility to manage the funds in the best interest of the beneficiarie...
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Account holders act as a fiduciary, meaning they have a legal responsibility to manage the funds in the best interest of the beneficiaries. Access to funds: Beneficiaries generally do not have direct access to the FBO account. Instead, they rely on the fiduciary to manage and disburse fun...
Account holders act as a fiduciary, meaning they have a legal responsibility to manage the funds in the best interest of the beneficiaries. Access to funds: Beneficiaries generally do not have direct access to the FBO account. Instead, they rely on the fiduciary to manage and disburse fun...
Account holders act as a fiduciary, meaning they have a legal responsibility to manage the funds in the best interest of the beneficiaries. Access to funds: Beneficiaries generally do not have direct access to the FBO account. Instead, they rely on the fiduciary to manage and disburse funds...