[WSBAPT] Transfer to Trust

[Brink, Kerry]

I am not sure how a POD account owned by a trust would work - since the trust doesn't "die?"  Is it an account that Pays out on the death of a non-owner of an account?


Best regards,
Kerry
Kerry E. Brink * Attorney at Law

Estate Planning, Probate, Elder Law

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mark Vohr
Sent: Friday, January 19, 2018 10:25 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Transfer to Trust

I was told that if a POD investment account is transferred to a trust, the POD beneficiary designation is lost and the trust becomes the beneficiary.  I don't agree, I think the beneficiary stays the same regardless of who owns the account (individual or trust).  In order to make the trust the beneficiary, one would also have to change the beneficiary designation.

Am I correct?

Mark


Ohana Fiduciary Corp.
Ohana Financial Services

Mark C. Vohr, J.D., CPG, Principal
PO Box 33710  Seattle, WA  98133
T:  (206) 782-1189 F:  (206) 782-1434
mcv at ohanafc.com<mailto:mcv at ohanafc.com>      www.ohanafc.com<http://www.ohanafc.com/>


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