Online investment trust creation and management
OwnerStephen G. Argenbrightinventor
Life of this patent
Estimating the term…
Abstract
A system and method for creating and administering trusts over the Internet. A grantor accesses a website over the Internet that is served by a trust account administration server. The server checks the identity and creditworthiness of the grantor, and then establishes a trust account. The trustee and beneficiary of the trust are electronically notified of the trust. A trust account administration server can also electronically notify the beneficiary of any demand rights that arise for gifts to the trust, and can permit distributions of the gifts if exercised. The beneficiary can also set up a family home page, and solicit contributions from friends, family, and other parties, for example on gift-giving events.
Claims24
A method of creating a trust over a computer network, comprising the steps of:
- receiving, over the computer network, an electronic request to create a trust from a grantor, the request including identification information regarding the grantor and a beneficiary of the trust, and also an initial funding amount;
- then operating a server to forward, over the computer network, a draft trust instrument to the grantor;
- receiving, from the grantor over the computer network, authorization to electronically convey funds from the grantor to a trust account;
- after the operating step, receiving an electronic confirmation from the grantor over the computer network to establish a trust;
- and
- then storing, in a trust account database and associated with the trust account, information regarding the grantor, the beneficiary, and the conveyed funds.
Dependencies are inferred from the claim text.