[WSBAPT] Transfer to Trust

[Paul Grant]

Amy's answer is the issue.  When you move an investment account from a
single or joint, the institution requires a new account for the trust.
Because the account is new it removes the beneficiary designation of the
last account.  However, even with all of that, the other posts are also
accurate, other than a life insurance policy or annuity, which are attached
to a insured/annuitant, the trust never dies so the trust instructions
therefore rule the distribution.

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Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
Lynnwood, WA 98036
425-939-9948
www.planningwithpurposeinc.com

Estate Planning. Business Planning. Wealth Succession.

On Fri, Jan 19, 2018 at 10:25 AM, Mark Vohr <mcv at ohanafc.com> wrote:

> 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      www.ohanafc.com
>
>
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