Treasury Direct accounts and how to transfer to our new Trust
Hi Terry,
My wife and I both have Treasury Direct accounts, set up as “with (spouse)”. We just had a Revocable Living Trust started and are wondering what is the easiest way to transfer these accounts to the Trust. Can it be done through a “change in Registration” or do we have to start a new account in the Trust name and transfer the securities over? Please advise at your convenience. Thank you very much, we really appreciate all you advice.
Sincerely,
Terry Says
Actually, none of the above will work! YOu need to open a new TD account in the name of the RLT, and use your SS number (yes, the same one as on your individual account).
Then, when your securities mature, send the money back to your original bank account you linked. Move the money to the NEW trust bank account that you just opened. And then buy NEW T-bills!
If you have other long-held securities in individual names (such as I-bonds) just leave them there and make sure you name your RLT as beneficiary for those older assets in your individual accounts.
