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Financial Account Transfer to Living Trust South Dakota Form

Financial Account Transfer to Living Trust South Dakota Form

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so you'd like to leave your brokerage accounts to your mature adult three children when you pass away outside of probate how do you do it do you leave those accounts in your name and set up a TOD transfer on death designation or do you transfer those accounts to your living trust well you can do it either way here's a couple of reasons why you may want to transfer those accounts during your living trust during your lifetime number one your future in capacity if those accounts are in your trust and you become incapacitated your successor trustee can take over managing those accounts if you leave those accounts in your name and have a TOD designation then when you become incapacitated your durable power of attorney will have to be produced in order for your agent to take over those accounts but many financial institutions are reluctant to accept durable Powers of Attorney because they either deem those Powers of Attorney too old or they don't have the language req

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