Legal Question in Wills and Trusts in California
Name of a Living Trust
I was wondering if the name of the trust has to be a person's full name or can it be something completely different that is not a person's name?
2 Answers from Attorneys
Re: Name of a Living Trust
The "And Now For Something Completely Different Trust" is a perfectly good example of a trust name.
Of course, you wouldn't want to use a trademarked, legally restricted. or misleading term, for example, "Bank," "Insurance," "Charitable," "Coca-Cola," "Olympics," or "U.S. Government" unless your use of the term is authorized / non-misleading / legitimate.
Re: Name of a Living Trust
You can call a trust whatever you like, but as a practical matter you will have to disclose to those with whom you do business the name of the Trustee. Further depending upon the assets of the trust you may have to file a fictitious business name statement in the county in which you carry on any business. A revocable trust is required to report income, etc. to the taxpayer id number of the Trustor (the person placing assets in the name of the Trustee of the Trust.)
You can find out a great deal about all of this by reading my book, "Create Your Legacy & Save the American Middle Class" It is written in simple plain English for the middle class and explains all this and more. You can find it for download on one of my websites, www.yourlivinglegacy.info.