A revocable trust, which includes the A&B trusts (one for the credit exemption and the other for the marital deduction) is a very common estate planning tool. Generally to avoid probate, the assets must be in the trust's name.
Some states have Transfer at Death beneficiary forms (T.O.D.) which
allow certain assets to pass probate free to the beneficiary. The
assets would have to be located in the state that had the T.O.D. law.
If you named the revocable trust a T.O.D. beneficiary ( for example a
money market fund) would the fund transfer to the trust on the death
of the grantor without going through probate ? Or would the fund have
to be in the trust's name ?
Thank you, Michael
- posted 7 years ago