What I want to know is this, simply put:

Does HRT redistributes fat

OR

Does it places fat in the right places?

The implication is:

If it redistributes fat, I will just keep my weight.

If it doesn't, I will diet then regain weight.

I've been on estrogen for about seven months (since December). I haven't experienced any fat distribution yet. At least not that I've noticed. My weight tends to fluctuate about 5-10 lbs. When it goes up and I gain a few pounds, it still tends to go to my waist and stomach rather than hips, thighs, and butt.  I'm hoping this changes. Everyone is different, though.

It redistributes fat, or did for me. The weight loss and gain may cause it to happen quicker.

It's very hit-or-miss.  Personally, the weight I have didn't redistribute,  And losing and regaining weight just put it back on in the same areas.  *shrug*  I guess it's the cardinal rule of transition:  Your mileage may vary. 

I'm on HRT since 13 month and have noticed some changes on thighs, some on buttocks, waist is still fine at size 32" and fat has reduced in the shoulder and back areas. Not by far enough yet, I wear size 10 - 12 (32 - 34) on bottom, on top medium (only in some cases) to large (more often) and in general size 14.
Size 14 is pleasing since I was initially close to a size 16 on top, which is huge! Due to windsurfing, manual woodworking, doing hand-planing years back.

In perspective, I'm 5' 6.5" tall and still weigh 74.5kg, yet seem to have not a lot fat reserves, certainly not when compared to a genetic female my age of 65.

The main thing is: YOU HAVE TO BE PATIENT! It will take years for E to do a comprehensive job, including breast growth. Mine are 38A and have gone on hold since some time after an initial growth push.

All those changes are subtle and do not come over night, BUT ARE DEFINITIVELY NOTICEABLE - in time.
The most quickly noticeable are: softer, thinner skin, and finer body hair --- excluding facial hair which have a DHT source for each and every root and can produce PLENTY of re-growth. YMMV

I hope this will give some perspective,
Axelle

If you look at the various shapes that exist out there, there is no one magic distribution pattern.  And what gets redistributed will not be done overnight.  I had next to no fat to redistribute when I started HRT all those years back...fortunately I also did not have a lot of muscle to have to worry about either. 

I've added some weight through the past fifteenish years since SRS, some of which I am now working on removing through time at the gym (figured I would give that a few months before going the lipo route).  The fat that has been added over the past few years has generally gone where it should...and thus far the loss has not come from up top. 

So there is a possibility my tummy fat could go to my boobs and butt?

One way I've heard it described is that your body is constantly burning and re-depositing fat. When you go on female hormones your body starts to deposit new fat in female areas and eventually the fat in your male areas will decrease, so the fat isn't actually moving.

I tried to find an example but I cannot find it online. I am not 100% that this is how it works, but logically it only makes sense as your body is always using energy even when you are not eating.

Hi, Maiara,

If you have a fast metabolism you should take advantage of it. Probably I did: some of my fat went to the "right" places and I kept eating as I did before, just choosing some fattier food whenever possible (obviously you shouldn't overeat), or things depending on fat. Preferably nice fat (I prefer, when possible, butter, not french fries).