Naming a Trust for the sole purpose of scoring additional I-bonds

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samsoes
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Naming a Trust for the sole purpose of scoring additional I-bonds

Post by samsoes »

Hey folks,

I'm in the process of creating a Revocable Living Trust for the sole purpose of obtaining an additional $10k in I-bonds. I'm using Denis Clifford's Make Your Own Living Trust book by Nolo. My question is how I should name the trust. This legal name appears several times in the Declaration of Trust document. Treasury Direct's instructions say "registration" should be in the following format:

"Sam Soes Trustee Under Declaration of Trust dated 5-20-2022" which can be abbreviated as "Sam Soes Tr U/D/T Dtd 5-20-2022".

Does the Declaration of Trust's legal name of the trust have to be in this format with indicating the trustee (me) and the creation date (The Sam Soes Tr U/D/T Dtd 5-20-2022 Living Trust), or can it simply be "The Sam Soes Living Trust" and the individual bonds be registered in the format indicated above?

(I am single and the trust will only be in my name. I have specified my estate as the Trust's beneficiary. Obviously, INAL!)

Thanks!
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)
annu
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by annu »

Ours is just FirstName+LastName+Family Trust
EHEngineer
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by EHEngineer »

The Finance Buff explains how in his article here: https://thefinancebuff.com/buy-more-i-b ... trust.html

Look in the section titled "Registration Name"
Or, you can ... decline to let me, a stranger on the Internet, egg you on to an exercise in time-wasting, and you could say "I'm probably OK and I don't care about it that much." -Nisiprius
Gill
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by Gill »

Name it whatever you like. You could call it the “Samsoes I Bond Trust”.
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal
JohnDoh
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by JohnDoh »

I think you are confusing the name of the trust in the trust document with how the trustee is subsequently referred to (and which is the name used for the TD account ("the registration name")). The trust document creates the trust by spelling out its rules and appointing one or more trustees. But it is the trustee(s) who subsequently act in the world on behalf of the trust. The institutions dealing with the trust don't really care about the trust per se. What they care about is that the individual they are dealing with is actually authorized to deal on behalf of the trust.
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samsoes
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by samsoes »

Thank you, folks for the clarification. As always, I am very appreciative of the help members give each other!
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)
BrokerageZelda
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by BrokerageZelda »

Similar to above, when I did this, I did not include the name of the trust in the TD account title. The name of the trust is outside the scope of TreasuryDirect account titling (though I did make sure it was named "The ... Trust" for convention).

Declaration of Trust title: "The Brokerage Zelda 2021 Living Trust" (numbered in case I want to open more trusts later)
TD account registration: "Brokerage Zelda TR U/D/T DTD 4-20-21"
Nowizard
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by Nowizard »

Ours is simply "The (My full name) and (My wife's full name) Revocable Trust."

Tim
jhawktx
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by jhawktx »

Lol..."scoring additional I-bonds"
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samsoes
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by samsoes »

BrokerageZelda wrote: Fri May 20, 2022 8:29 am Similar to above, when I did this, I did not include the name of the trust in the TD account title. The name of the trust is outside the scope of TreasuryDirect account titling (though I did make sure it was named "The ... Trust" for convention).

Declaration of Trust title: "The Brokerage Zelda 2021 Living Trust" (numbered in case I want to open more trusts later)
TD account registration: "Brokerage Zelda TR U/D/T DTD 4-20-21"
Excellent, thank you!
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)
Shortsellforfun
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by Shortsellforfun »

I was going to ask a couple questions (like do I need a separate Tax ID number) but decided to do a google-search and found answers here:

https://thefinancebuff.com/buy-more-i-b ... trust.html
(Answer: a separate TIN is not needed)

Found 3 min video from USG too:
https://www.treasurydirect.gov/indiv/to ... ccount.htm

For anyone with an existing Revocable Trust, setting up a TD account looks easy. For joint trusts, you may need to check that a single individual has trust control.

SSFF
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Re: Naming a Trust for the sole purpose of scoring additional I-bonds

Post by September »

I am also using the Denis Clifford's book to create a trust for sole purpose of purchasing I-bonds. I have downloaded Form 1: Living Trust for One Person. I have a question on Schedule A---All the grantors's interest in the following property. Should I list I-bonds in Schedule A? Since I am creating a trust to purchase I-bonds and I haven't purchased I-bonds yet, what should I put in Schedule A?

Another Question on Notary's Acknowledgement. I found some guidance on https://notaryacknowledgement.com/va/vi ... ndividual/
Is this good enough?

Thanks for your help!
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