Moving t bonds and notes from a joint account into our revocable living trust
We purchased I bonds some years ago and since then have followed your advice to buy some bills and notes in our Treasury Direct account. The problem is that the account was originally set up using my husband’s SSN and I was added to the account later. Now as we age and have added investments, we would like to transfer these holdings into our trust. Can we do this, and how would we go about this? Would appreciate some guidance. Thank you.
Terry Says
I would suggest you stop renewing the bonds at maturity and let the money drop back into your checking account. Then open a NEW account in the name of your revocable living trust, using your SSN. Move the money into a checking or MM account that you open (same bank) in the name of your RLT. THEN, make new purchases of Treasury securities in your new account (linked to your RLT bank account).
You likely won’t be asked for paperwork to prove the RLT, even though it likely uses the same SS number as on your individual account. I suggest closing that original TreasuryDirect account a few months after all the money has been transferred out.
