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Yes, a Certificate of Deposit (CD) can be included in the name of a trust. This means the CD can be titled in the trust's name instead of an individual's name. To do this, the trustee must work with the bank to ensure the CD is properly registered under the trust.

Here are some key points to consider:

The trust document must allow the trust to hold financial assets like CDs.

The bank may require a copy of the trust agreement or a Certification of Trust before retitling the CD.

The trustee will manage the CD on behalf of the beneficiaries according to the trust's terms.

If the CD is not yet matured, check for early withdrawal penalties before transferring it to the trust.

This setup can help with estate planning, avoiding probate, and ensuring the CD is handled according to the trust's wishes.

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salmaan

Lvl 3
4mo ago

What else can I help you with?