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The Law Firm of Steven F.Bliss Esq.Estate Planning Lawyer This is often done with bank and other financial accounts (usually called pay-on-death or POD).
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Like most trusts,is simply a holding device.
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In fact,since the trust resides on past your death,the only individuals who will know the living trust at your death are the beneficiaries and the trustee Moreover,the terms of a trust remain private,whereas the contents of a last will and testament become public during the probate process The Law Firm of Steven F.Bliss Esq.Probate Attorney.
You are another relative of the person who has died The Law Firm of Steven F.Bliss Esq.(858) 278-2800 Estate Planning Attorney Having an estate account reduces the potential for liability falling on the executor’s shoulders because there is no risk of commingling funds,which occurs when personal assets are mixed in with estate assets.
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