I have a situation where an acct. name didn't get transferred to the name of a trust. The customer is now deceased and the attorney who prepared the trust document claims that the account belongs to the trust even though the name did not get changed due to a general assignment made in the trust document. I have always been told that the account name had to be actually transferred to the trust name for it to be considered property of the trust. The attorney says that he cannot find any law that indicates that his general assignment in the trust document doesn't take care of the acct. transfer. So, I am telling the trustees of the trust one thing and the attorney who happens to be related to the trustees is telling them something else. I know they probably think he is right and at this time, I really don't know who is right or wrong! The new accounts representative or the attorney? Please advise if you can!!

It has always been my understanding that the account cannot be transferred to the trust after the grantor dies. It's too late at that point. We've had the same situation here and the account had to be probated.