Living Trust Documents

Financial institutions are required to complete transactions for customers who have created revocable and irrevocable trusts. To protect the financial institution's interests when using these documents, it is imperative to understand the basic do's and don't's. This presentation is designed to provide financial institution personnel with the best practices that can be used when dealing with these complex legal documents.

Covered Topics:

  • What are the differences between revocable and irrevocable trusts?
  • What does it mean when a trust is called a "living trust" versus a "testamentary trust?"
  • How does the financial institution establish the relationship, including changing titles and performing transactions (loans or deposits)?
  • How many co-trustees does it take to bind the trust?
  • When can a successor trustee do business for the trust?
  • Can a power of attorney be used with a trust document?
  • Can a trust own a safe deposit box?
  • Can a trust co-own an account with another trust (or person)?

Who Should Attend?

Financial institution employees involved with opening new accounts, deposit or loan documentation and operations.