I'm in the process of setting up a will. I would like to define a Trust with my young daughter as the beneficiary, and another relative as the main trustee. I assume this sort of trust is created on my death, and my estate's funds will be transferred into it per the Will.
My question is around my brokerage account's beneficiary designation. It is currently set to be my daughter, and supersedes any Will. I am able to specify a Trust Name as the beneficiary int he account. However does this Trust need to be setup already? How would I specify it so that it is valid, if the Trust is defined in my will to be setup at Death. I think the brokerage would require the proof of existence only on transfer at death, but what would the name be? Along with the Trust Name is a question for Trust Date, which seems to only apply to an existing trust?
Submitted May 02, 2019 at 11:05PM by ralphy112 http://bit.ly/2UU76q9
