My mom and dad have a living trust. They recently received a check payable to my dad and the trust. The bank said he is required to sign as trustee and as an individual. Why? Isn't he the same person? They said he is trustee of trust and not owner of trust.
The bank is correct. The trust is a separate legal entity, and it must endorse the check separately from your father, so your dad should sign as trustee first and then as an individual.
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The bank is correct. The trust is a separate legal entity, and it must 