Will a living trust filed in the US.courts be honored by Canadian banks for the transferrance of all funds to my designated beneficiary in the US in the event of my death?

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Will a living trust filed in the US.courts be honored by Canadian banks for the transferrance of all funds to my designated beneficiary in the US in the event of my death?

Asked on February 19, 2013 under Estate Planning, California

Answers:

Victor Waid / Law Office of Victor Waid

Answered 8 years ago | Contributor

Although I do not have any Canadian experience re rules for Canadian bank re transfer of funds to designate US beneficiaries, my sense is you would need to contact a Canadian lawyer, or have your local probate lawyer make the connection to file the necessary petition in Canada, in the territory where the bank and or the funds are located, to obtain an order to release those funds to you. By the way living trust are not always filed in the US courts unless there is sone legal reason or court contest over the provisions of the trust. However, the Canadian courts will probably be wanting a certified court order from the U S court, to authenticate who is requesting the fund transfer, and why.


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