My daughter, trust executer, not listed as a trustee. bank says cannot be on savings account; account part of the trust. do?

Trusts 3 views 3 answers
what do I need to do to get her on checking account?

Attorney Answers

3
Bryan Phipps ·
Your question is a little cryptic, but it does give you your answer. You say that she is not listed as trustee, so the bank will not add her to a bank account owned by the trust. A bank typically requires a certification of trust, or to see the terms of the trust, in order to determine who the current trustee is. Only the currently serving trustee has the authority to own trust assets (such as a savings account titled in the name of the trust). Assuming you are referring to your own revocable living trust, you will need to amend the trust in order to name your daughter as either a co-trustee or the sole trustee. Make sure you check with your estate planning attorney before amending the trust.
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Mitchell Port ·
If the bank you're at won't cooperate, go to another bank, open a new account, and list your daughter as trustee on the account.
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Jerry E ShilesElder Law AttorneyOklahoma City, OK ·
There may be two options. If your durable power of attorney authorizes your agent (daughter) to act on behalf of trust property, then you can add her that way, assuming the bank will honor that provision. Some banks will and some won't. If not, you can either move your account to another institution or amend your trust to make your daughter a current co-trustee.
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