My question involves estate proceedings in the state of: California
Several years ago my attorney created a living trust for me and we placed all my properties and bank accounts in the name of the trust.
I now wish to open two new bank accounts. The local brick and mortar banks offer a fraction of a percent in interest, while the internet banks are offering almost 2.5%, However, when I contact them, they will not open an account in the name of a living trust and instead, wish to put the accounts my name personally and list the trust as Pay on Death.
What am I losing by not having the living trust listed as primary on the accounts?