Living Trust Name Issue
by Chris
(California)
My mother recently passed away and as executor of her Trust, I am gathering together all of the funds for distribution to the beneficiaries. One of the assets is an annuity that has a large death benefit.
Here is the problem. The Trust name that was registered with the annuity company is incorrect and the benefit check that was issued has that incorrect name and because of that the bank will not accept it. The annuity company has refused to change the Trust name that they have on file to the correct name and reissue the check. They simply said consult a lawyer.
Any advice on how to resolve this? Can I open a new trust with the incorrect name? Can an a.k.a. be created for the Trust? Does the annuity company have any obligation here?
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