I want to move my accounts into my living trust. I've hard that NOW accounts can only be owned by natural persons. Will I have to give up the interest I currently earn on my NOW account when I move it into the trust?
In most cases, the living trust will be eligible to hold a NOW account. If the trust's beneficiaries are all eligible to hold NOW accounts (this will include most not-for-profit organizations, in addition to natural persons), the trust itself will be eligible.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
In most cases, the living trust will be eligible to hold a NOW account. If the trust's beneficiaries are all eligible to hold NOW accounts (this will include most 