10/15/2017
Can a check made out to a Trust be deposited into a personal account owned by the members of the trust?
09/10/2017
We have been informed that our client is deceased. The account is titled (for example) John Smith - POD (POD is listed as John Smith Trust). The successor trustee of the “John Smith Trust” has provided us with a copy of the full Trust, the Will, and the certified death certificate. The successor trustee requested that the account be closed and a cashier’s check payable to the trust be mailed to his address.
Is the bank protected if we follow the instructions of the successor trustee, or are we better protected if we change the title of the account to the trust, have the successor trustee complete a Trust Certification and Signature Card and then close the account with a cashier’s check payable to the trust?
07/09/2017
What are some common trust exceptions that banks track with ticklers?
06/18/2017
Are banks allowed to require a customer to provide a Certification of Trust even though the customer has provided the full trust at account opening?
02/12/2017
My question today is can a Revocable Trust Account holder receive a debit card for that account? If they can, will we issue a Consumer or Business Debit Card?
01/29/2017
When opening a DBA account with an SSN, is there any reason to run a ChexSystems or similar report on the DBA name? Is the same true for a trust using an SSN?
01/22/2017
Can a check payable to the signer on an checking account be deposited into a checking account with a Trust as the owner?
11/20/2016
Can a business deposit account be opened by a revocable trust with the tax ID used for the trust? The individual is the owner of the trust and also the trustee.
11/06/2016
We have a husband and wife who want to open a checking account. They would like to make it payable on death to a revocable trust in their names. Is this possible?
10/09/2016
This is a question about a revocable living trust. The situation is that the trustor has passed away and the trustee is to set up accounts for the listed grand children. She was told that she would need to get an EIN number for them. What type of account would this be? A trust for each one and is there any documentation that would be needed other than the original trust papers?