US Treasury Direct Husband/Wife Revocable Trust Access
US Treasury Account is set up in name of husband/wife’s Trust. Husband is “account manager” & his SS is tied to account. If husband dies, how do get access to account?
My call w/Treasury Direct asking this ?, said even though I am living trustee, I would have to submit a form, and create a new account w/me as Manager. Said it could take 10-12 months AND bond once matured & interest paid, principal would be held w/out interest until new account was established. Is this really true & if yes, is there something I can/should do to avoid the hassle & long wait? I am unable to find an answer to this question online. Thanks for your response.
Terry Says
This is a revocable living trust. You have the credentials to log in (including the new ID.me credentials).
You don’t have to say that your husband is dead! But you should act to stop automatic renewals (of Treasury bills) and have the money drop back into the bank account in the name of the trust, the account linked to your TreasuryDirect account. So if it’s Treasury bills, you’ll have the cash in the Trust bank account –and then you could open a new TD account if you want.
If you’re talking about owning a Savings Bond in the name of your RLT trust TD account, you should just leave it alone until maturity. Again, you have the credentials to get into the account if you want to sell it — early — and take the penalty. But this bond is owned by your RLT, you are a trustee, and you have the credentials to access the account.
Just make sure to set up ID.me access NOW, while your spouse is alive! Then you can use those credentials to access the account.
