How to Transfer Your Bank Accounts into a Living Trust: A Step by Step Guide
23K views · Oct 29, 2024 · Entertainment
Comments · 17
@gwenhavlichek5025 · 5 months ago
Thank you for this valuable information.
3
@49leobear · 1 year ago
During your life, does the bank account retitled to the trust have to have an EIN for the trust?
2
@rpm3605 · 3 months ago
Mr Gudorf, I have a revocable living trust. My wife & I are the grantors of the trust and are the current trustees of that trust. Our jointly held primary bank account and our home were transferred into the trust (and verified as such). We have a second online jointly held bank accounts (checking & savings) but that bank doesn’t allow titling those accounts in the name of a trust - not even as a beneficiary. We have designated POD beneficiaries for these online accounts. Does having these accounts outside the trust risk having those specific accounts exposed to probate in the state of California?
2
@user-hd9ws3lr9h · 1 month ago
You don't need to put accounts in a trust. Unless you want to add language on how the trust pays out the money. All you need is to add beneficiaries to the accounts. Retirements, brokerage, bank, etc.... Simple estates don't need trusts to do this.
@lialaliala2968 · 2 months ago (edited)
Easy way just added your kids account and I did
@CanesFan65 · 5 months ago
Too many complicated rules. Some say to just use a Pay on Death or make the Trust the Beneficiary for the bank account rather than changing the name on the Bank Account.
@LocTran-ws2ip · 3 months ago
Why do you need to do it? wrong! Setup beneficiary in the bank account is much better.
1
@jeffhays1968 · 5 months ago
Basically can't have bank accounts in a trust. You need a beneficiary on the account ,which actually can be a trust.
3
@GebriilMusk · 3 weeks ago
Never disclose the entire trust instruments to anyone, ots the breech of trust. This man is a lunatic. If you must share it, create an abstract of the trust and only share it. Never the full trust, don't listen to the idiots that are pretending to know the trust law.
@LR-jk2jk · 7 months ago (edited)
10min and we still have not gotten to the "how" from the title.
2
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