Bank as the executor

Planning to get a bank to handle the financial functions shows that you understand two of the essential elements in seeking investment capital from arm's length sources: transparency and full disclosure.

Your banking plan, however, is merely a management detail that only comes up after you have jumped through several securities hoops. Asking strangers to invest in a business venture is a highly regulated undertaking governed by several Securities Acts.

Before you find a bank to manage all the money you're planning to raise, first seek advice from a securities lawyer. And please note: a securities lawyer is not the guy who closed your loan or wrote your will. Securities lawyers are specialists who keep people who want to do what you want to do from going to jail.

And one more thing: don't ask ANYONE for money (unless it's someone you know personally), online or otherwise, without knowing how the securities laws apply.