Legal Question in Real Estate Law in New York

I am one of the beneficiaries of a revocable living trust whose grantor is deceased. The only asset in the trust is a house which will be sold this year. The trust document lists me as a beneficiary by my legal name but I want to establish another trust (the trustee of which will be another party) with myself as the sole beneficiary and fund that trust solely with a bank account into which my share of the proceeds of the sale of the house will be deposited. Is that possible given that the bank account would be in a name which differs from the legal beneficiary name in the trust or would the check HAVE to be made out to me in my legal name? If what I want to do is possible, how would it best be accomplished please or, if not, what alternative course of action might you recommend?

Asked on 1/19/17, 10:54 am

David Slater David P. Slater, Esq.

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First establish your trust agreement. Once you receive the $ you can place it in your trust.

Answered on 1/19/17, 2:10 pm

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