Midpack
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My attorney instructed us to fund our trust by retitling/converting all our (larger) assets. Converting our house deed, cars, Vanguard accts and online savings has been pretty easy.
But re: local bank checking acct he instructed us there would be no need to change our bank acct number, or to change our checks - still in our names vs name of trust. In fact he said don’t change the acct name.
It took some doing but Bank of America did agree to keep our acct number as is. However, they say it’s impossible to avoid changing the acct to the name of the trust. Our checks will change and any check written to me or DW by name can’t be deposited anymore - has to be in the name of the trust! WTH?
Were any of you able to do as our estate attorney recommended?
[After a long discussion with a very frustrated BofA rep, he told us he could leave everything the same by instead making our trust the beneficiary of the checking account, POD only (payable on death of both of us). Waiting to see if attorney finds that acceptable.]
But re: local bank checking acct he instructed us there would be no need to change our bank acct number, or to change our checks - still in our names vs name of trust. In fact he said don’t change the acct name.
It took some doing but Bank of America did agree to keep our acct number as is. However, they say it’s impossible to avoid changing the acct to the name of the trust. Our checks will change and any check written to me or DW by name can’t be deposited anymore - has to be in the name of the trust! WTH?
Were any of you able to do as our estate attorney recommended?
[After a long discussion with a very frustrated BofA rep, he told us he could leave everything the same by instead making our trust the beneficiary of the checking account, POD only (payable on death of both of us). Waiting to see if attorney finds that acceptable.]
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