Living Trust Accounts

MNfarmer | Nov 5, 2014 | 11 posts since 2012

I am having a hard time finding which banks provide trust accounts. It would be nice to include in your blog or ratings page.

Anyone have positive info on banks with that provide trust accounts?

Thanks

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Answers

Shorebreak | Nov 5, 2014 | 4,039 posts since 2010

Here is an example of what trust services a bank should offer.

Texas Bank

paoli2 | Nov 5, 2014 | 2,641 posts since 2011

Thank you SB. That Texas Bank has great info on it's site but I don't think all banks have that type of useful Trust info readily available on their websites. I found I had to call banks I was interested in locally and get info over the phone or make plans to go in to them and talk to the person in their Trust department. Too bad, they all aren't as helpful on their websites as this Texas Bank is.

MNfarmer | Mar 31, 2015 | 11 posts since 2012

Looking for Banks that allow formal trusts to hold the savings account, Ally is the only one I can find. It would be nice to know which banks allow!

paoli2 | Nov 5, 2014 | 2,641 posts since 2011

I would like to read more about this subject on DA also. From what I have found on my own research, one must go to a lawyer to set up the particular type of trust one wants and then most banks I contacted would handle the trust account but there was a fee involved. There are many types of trust accounts and it is up to the individual to decide what type they need and which institution they want to handle it. I would love to read more from DA members who have already set up trust accounts and what ways they went about doing it at the most favorable cost to them. Thanks.

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