When it comes to investment accounts, the answer is usually pretty simple. They belong in your trust.
Investment accounts are the one class of assets that should almost always go into your trust, according to The Herald Bulletin in "If you have a trust, that's where your investments should go."
When an experienced estate planning attorney drafts you a proper trust, you need to start adding your assets.
That can sometimes be difficult, since you might not want everything to go into your trust right away. Your estate plan might be created in such a way to keep certain assets out of the trust for various reasons. You might not want to wait to put some things in the trust until after you pass away, when your will directs that that is where they should go.
Any investments you have should almost always go into your trust. This is done for tax reasons most of the time, but it is a clear call.
That does not mean that you should put your IRA into a trust, however. That is a complicated decision that you will want to talk to your attorney about. However, any other investments should be put into the trust.
An estate planning attorney can guide you in setting up a trust that fits your unique circumstances. Call (443) 470-3599 today and schedule a consultation with Maryland Attorney Britt L. Stouffer to learn more about Estate or Elder Law and how she can help you.
Reference: The Herald Bulletin (Dec. 17, 2016) "If you have a trust, that's where your investments should go."
