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Leslie Rubright Daff

Leslie Daff’s Answers

3 total

  • How do I transfer savings bonds into my Trust?

    Do I need to do it or can I designate a beneficiary?

    Leslie’s Answer

    • Selected as best answer

    You can change ownership of paper savings bonds from your name as an individual to your name as Trustee of your trust by going to treasurydirect.gov, filling out form PDF 1851, and mailing the form in with your bonds by registered mail. The instructions can be found on the page entitled "Reissuing Savings Bonds to a Trust."

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  • How are my assets "transferred" to my trust?

    I recently had a lawyer write a trust document for me. It's a "living" trust, and I'm sure the document is fine. The trust contains some bank accounts and some real estate which I hold with several other siblings. However, I've been reading in ...

    Leslie’s Answer

    It's very important to "fund" your living trust. An unfunded or partially funded living trust does not avoid probate. Essentially, you make ownership changes to change title on most of your assets from your name as an individual to your name as trustee of your living trust. For other assets, such as life insurance and retirement accounts, you will make beneficiary changes to properly distribute those assets upon your death (the beneficiary will not necessarily be your living trust, however - it's important to work with an attorney to coordinate these assets with your overall estate plan). To transfer assets to your trust, you must execute new documents of title, deeds to real property, or change of beneficiary forms for pension plans, individual retirement plans, and life insurance. In your particular situation, you mention you have bank accounts and real estate. You will need to execute a deed (or deeds) to transfer your real property interest(s) to your living trust and the deed(s) should be recorded at the Recorder's Office in the County where the property is located. Generally attorneys handle deeds as part of the estate planning process, but there are also online services that prepare deeds. I assume your bank accounts are not retirement accounts. If so, you can just take a copy of your trust to the bank and have the bank re-title the accounts in your name as trustee of your trust. If the bank is not local, you can ask the bank to send you change of title/ownership forms to re-title/re-register the accounts as trust accounts.

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  • My husband passes away, his mother is still living and has my husband as an heir in her trust Who inherits ? His children?

    Who are not mine Or his brothers still living?

    Leslie’s Answer

    Typically trusts are drafted to leave assets to descendants "by representation" or "per stirpes" or similar language, which means your deceased husband's share would go to his descendants. Somewhat unlikely, but possible, is that the trust is drafted to leave her estate to her "surviving children" or to each of them by name, with a lapsed share going to the survivors, in which case it would go to your deceased husband's brothers and not your deceased husband's children.

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