I live in NY State and want to create a Totten (pay on death) Trust for my bank accounts. My bank insists that I must supply the social security numbers for the beneficiaries, but I would prefer to not inform them of my intentions and simply list their names and addresses. Can I do that and will it still be legal? (I have life insurance and portfolios with beneficiaries, and I have not provided SS# for them.)
Answer
Yes. Ask another bank.
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