Bank Trust Account

25 Mar 2025 · 1 min

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In this instructional video, the presenter explains how to open a bank account for a revocable living trust. The process begins with having a properly established revocable trust, and the speaker advises consulting an estate‑planning attorney if one does not already exist. Once the trust is in place, the next step is to fund it, which requires a dedicated trust account at a bank. Viewers are urged to confirm that their chosen bank permits trust accounts—most major banks do, but verification is essential. The account can be opened by any trustee named in the trust, and while some banks may allow online setup, the presenter recommends visiting a branch for first‑time users. Required documentation includes a certificate or certification of trust and two forms of personal identification. The bank will also have its own paperwork to complete. After the account is opened, the title should read the trustee’s name followed by “as trustee of the [Your Name] Living Trust,” and any funds deposited will be held within the trust.

Chapters

How to set up your trust account at the bank. Step 1, you need a trust. And in this video, I'll talk about a revocable trust. If you don't have a revocable trust, go to see an estate planning lawyer. When that trust is set up, one of the main things you have to do is fund it. And setting up a trust account is critical to funding. Check with your bank just to make sure that they allow trust accounts. Most of the major banks do allow trust accounts, but check with them just to be sure. A trust account can be created by any of the trustees named in the trust. Some banks allow you to do this online, but if you haven't done it before, I'd suggest just going down to the bank. They're going to want to see some evidence that you have a trust. Within your documents, you should have a certificate or certification of trust. Check with the bank beforehand to see what documents they require. Also, be sure to take two forms of identification with you. The bank will want you to fill out some of their own documentation. And once you've done all that, you'll have a trust account. The title on that account will be your name as trustee of your living trust. Once it's open, any money you have in that account will be in the trust.