[WSBAPT] Transfer to Trust

[Mark Vohr]

Thank you Tracy. The person insists this is the rule, but I agree with you. I can’t see how changing ownership would impact beneficiary designations, but I wanted to check.

Mark C. Vohr

Sent from my Mobile Device.

On Jan 19, 2018, at 1:04 PM, Tracie Wall <tlw at traciewalllaw.com<mailto:tlw at traciewalllaw.com>> wrote:

Mark:

You are correct.  We fund a lot of Trusts with various investment accounts/financial assets/insurance policies. The Trust is often the owner of the asset but not the beneficiary.

Tracie


Tracie L. Wall  |  Attorney
CPA - Inactive
VA Accredited
Law Office of Tracie L. Wall and Associates
51 W Dayton St., Suite 305  |  Edmonds, WA 98020
Tel + 425.670.1560  |  Fax + 425.361.1512  |  www.traciewalllaw.com<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.traciewalllaw.com_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=N79vOxtB0IifRuD919KysXHwIoKDuDHVXOsxSn2C1rs&s=lETJc0gfV_hayrQ3CMDT4J6C4dn6xmfqjwYWN628LZY&e=>



From: wsbapt-bounces at lists.wsbarppt.com<mailto: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
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<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.ohanafc.com_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=N79vOxtB0IifRuD919KysXHwIoKDuDHVXOsxSn2C1rs&s=f72ixmUOLyMgLBip_3P4Nyr9GMWWoR7z4T4_M-jAahc&e=>


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