Situation: Co-Trustees of a revocable trust open a bank account in the of the trust OR Co-Executors of a decedent's estate open a bank account in the name of the estate OR Co-Conservators of an incapicitated person open a bank account in the name of the incapacitated.

Question: If the Co-Fiduciaries are required to act in concert for all transactions (whether required by the trust document or by the Probate Code), is the bank responsible for making sure all Co-Fiducaries have consented before any transactions are executed? If the bank fails to do so, is the bank liable to the other Co-Fiduciaries?

We recently closed an estate account where it had co-executors because one of the executors wanted to have her say so on all the transactions. We didn't want to be responsible for any liability arising from this account. Not that we believed that we'd be responsible for monitoring the accout but we felt that since we knew there was the disagreement amongst the parties that it'd just be simpler to let the account go. The other co-executor was very easy to work with. Not that this answers your question but we just didn't want to be the middle man between the executors.