Background investigation and trust fund.

[nicknitro]

Greetings all.

Will keep it short and to the point. When I was 12, my father passed away on 9/11 and I inherited a six figure amount in a trust fund. I have no access to this money until I am an age designated by my mom (somewhere over 30), I couldn't take any out or use it at all unless it was authorized by my mom. The money is in an investment fund managed by Merrill Lynch.

Basically, should I report this on my background investigation? I have heard from some police officers that I should report everything, and others have told me that it's irrelevant since I have no access to it and it wouldn't be considered a demerit, since it isn't something bad like debt.

Thoughts?

Thank you.

[Iowa #1603]

Of course you should disclose this ASSET to your background investigator

[just joe]

Are they asking you to list your assests, or is this something you just want to bring up?

[PhilipCal]

If you are asked to disclose assets of this nature, do so.

[nicknitro]

Are they asking you to list your assests, or is this something you just want to bring up?

If I should report it as an asset or not, since I have no access to it.

I guess this was more of a financial question than a background investigation one, lol.

If given the choice, I would rather not have mentioned it. Some people could make an initial bad judgement on me (rich kid, spoiled, handed everything, etc).

Thanks for the replies, it is an asset then and it should reported as such.

[Iowa #1603]

It is an asset even if you don't have immediate access to it. You DO have access to it just not immediate

. I have no access to this money until I am an age designated by my mom (somewhere over 30), I couldn't take any out or use it at all unless it was authorized by my mom. .

Don't try to split hairs....................


Lets say 5 yrs from now you "suddenly" become real rich because of this trust----------------------and around then you are involved in a big investigation about drugs missing, or need a clearance to work with a task force--------------------You haven't mentioned this before and now it is discovered.


Think that might cause some problems????????????

[nicknitro]

It is an asset even if you don't have immediate access to it. You DO have access to it just not immediate

Don't try to split hairs....................


Lets say 5 yrs from now you "suddenly" become real rich because of this trust----------------------and around then you are involved in a big investigation about drugs missing, or need a clearance to work with a task force--------------------You haven't mentioned this before and now it is discovered.


Think that might cause some problems????????????

I don't know, would it? It would certainly raise questions, which could be answered via tracing back the paper trail that money leaves. Probably wouldn't cause problems though, per se. It is a hypothetical I would rather avoid all together though by just listing the money; as advised by you and the others in this thread.

[wutzcrack3n]

Yes it would

[wutzcrack3n]

What if you were ever bribed or investigated for corruption.... it would raise some flags, i would rather some have an opinion of me than potentially get reemed later on

[Iowa #1603]

I don't know, would it? .

YEs it would...............................

If you don't want to take our advice----------------why ask the question.

YOu have been told that if asked for a run down of your assets-------------disclose it.

If you chose not to take our advice --------------don't argue with us, just don't do and go on about your life




Now let me give you another scenario..........................you DON'T disclose this asset after being asked to list your assets.

When you become 30 you get unfettered access to all this money. The job finds out about it.

You get fired for cause because you failed to disclose when asked. I have seen people terminated for cause a LONG time after being hired and after they have had good careers.........because of a lie/omission on an application packet.


Do you want that to happen

[Country_Jim]

One of my favorite pastimes is asking a question and then arguing about the answer.

[wutzcrack3n]

I dont see what the big deal is? Its not like your disclosing anything criminal regarding the assets. Why would you choose not too? Because of what people think? If your so worried about that, perhaps your in the wrong field.

I can honestly say that as an officer, you are going to be scrutinized for every move, no matter what decision you will make. Come back and refute that once you understand what its like to have people always watching and having an opinion of not only you, but labeling every officer after an event of a wrong doing.

[PhilipCal]

I don't know, would it? It would certainly raise questions, which could be answered via tracing back the paper trail that money leaves. Probably wouldn't cause problems though, per se. It is a hypothetical I would rather avoid all together though by just listing the money; as advised by you and the others in this thread.

What part of these replies are you having problems with? You asked a very reasonable and interesting question, and you have received some very cogent and reasonable replies. Apply the knowledge you have asked for and received.

[Amigo1342]

It's in your best interest, nicknitro, to listen to the advice given to you. If you choose to ignore said advice, PhilipCal will have no choice but to lecture you on Hillary's village and other related topics. Its been a while, and I know he's itching to let it rip .

Please spare yourself.

Edit: I do realize that as of today's date (11/26/14), at approximately 1148 hours, said lecture did take place elsewhere.... BUT.... I did say its been a while, which still stands true.

[Airborne_Infantry]

First, sorry for your loss. Second, disclose it and let them know that you don't have access.