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How to Open a Trust Account

The grantor is deceased and I am successor trustee of the trust. What is needed to open a trust account at my local bank?

There is no one correct answer to your question. Bank requirements for opening a trust account are affected by state laws, local practices and by bank policy. At minimum, you will need to provide a copy of the trust or an affidavit as to the terms of the trust, and documentation of your status as the current trustee, along with the standard evidence of your own identity. It's also likely that the bank will want evidence of the original trustee's death as part of the documentation of your status as current trustee. For further details, contact the bank or banks where you are interested in opening the account.

Published on 11/14/08