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#2296695 - 05/01/24 05:40 PM Escrow Account with Escrow Agreement
Amanda Offline
Junior Member
Joined: Sep 2020
Posts: 27
We have two attorneys that are working together as an Escrow Agent on the behalf of an escrow agreement which involves a estate and a trust. They want to open an account but we are not sure how to set it up. We know the attorneys would be the only ones that can handle the account since they are responsible for the funds in accordance of the escrow agreement but should we set this account up as a trust or as a business or what? Any advice will be greatly appreciated!

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#2296712 - 05/01/24 08:42 PM Re: Escrow Account with Escrow Agreement Amanda
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,404
Galveston, TX
I would be talking to my own legal counsel and have them review such an agreement. I would probably just pass, as this would be a highly unusual arrangement and most likely would be a short-lived account, making it unprofitable to spend much time on it figuring out how to set it up.
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