How do bank account beneficiaries work with a living trust? | NC

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Q: How do bank account beneficiaries work with a living trust? A: In North Carolina, the bank’s records usually control who gets the account when the owner dies. If the account has a valid payable-on-death beneficiary, that beneficiary generally receives the money directly, even if the living trust says something different. A living trust controls the account only if the account is titled in the…