Has anyone else created a trust?

HImom
Thu, 04 Sep 2014 17:36:40 +0000

We have had no problems getting banks to accept the trust titling that our attorney created. We are NOT using it for everything–you should double-check with your attorney where it needs to go. It only lists trust as contingent beneficiary for IRAs with the spouse as primary beneficiary. The trust has info as to how it is divided up once there is a death. Our trust will hold the funds until our kids reach age 30 (I believe) and then disburse to them equally). I think it is normal for trusts to be divided equally among your kids, IF that’s what you want. If your kids are still minors, under age 18, that creates slightly more issues than for those of us whose kids are over 18 and don’t need a guardian.