Is there any downside to naming a trust as a beneficiary to a CD or in general, a bank account if the bank and/or credit union allows it? This is in California.
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After more research today including talking to the lawyer that drew up the trust, I ended up with two reasons that it might not be good.
listed in the comments above that it would make access to the money more difficult if incapacitated
having the account registered in a persons name makes it easier for an unscrupulous person to declare you incompetent to handle your finances by a court appointed judge, whereas an account in the name of a trust would prevent that situation
Ian
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