What is the name of your state (only U.S. law)? ny
i recently engaged a laywer to create a living trust for me. i read through the 3 page document he created and it was titled last will and testament but has a clause in their stating that it is a trust named as "my name" trust. i tried to open a trust account for the kids but the bank refused stating what i have is a will and not a trust document... thus, i am not protected under a trust. i did ask my lawyer as to how i can transfer my property into a trust... he wanted more money. but now i'm confused, i paid a lot of money and initially told him i want to create a trust. but the result is a will that doesn't protect my assets. he said ny is not a big state on living trust. am i missing something here? please advise...
i recently engaged a laywer to create a living trust for me. i read through the 3 page document he created and it was titled last will and testament but has a clause in their stating that it is a trust named as "my name" trust. i tried to open a trust account for the kids but the bank refused stating what i have is a will and not a trust document... thus, i am not protected under a trust. i did ask my lawyer as to how i can transfer my property into a trust... he wanted more money. but now i'm confused, i paid a lot of money and initially told him i want to create a trust. but the result is a will that doesn't protect my assets. he said ny is not a big state on living trust. am i missing something here? please advise...