Treasury Direct Account
My wife is opening a Treasury Direct account. We have our checking account with Chase Bank. At the suggestion of our estate attorney, we are opening the Treasury Direct account in the name of wife’s revocable trust. We want to have interest payments from the Treasury Direct account go into our Chase checking account. Treasury Direct wants the bank to give a signature guarantee on their documentation which ties the two accounts. Chase is unwilling to do so, citing the risk of providing the signature guarantee. Is there something we can do to resolve this matter with two seemingly immovable institutions?
Terry Says
Your attorney is correct that the TreasuryDirect account should be opened in the name of the RLT. AND, then you should open a bank account in the name of the RLT! Link them! That’s the easy and ONLY way to do this.
PS Most of your banking assets, except for your daily checking needs, should be in accounts in the name of your RLT once you get it set up. That’s the whole point of it! And be sure to transfer title to your house into the name of the RLT — no tax consequences.
