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Revocable Living Trust Savings Accounts

bradmoe   |     |   3 posts since 2012

I am having a hard time finding which banks provide Revocable Living Trust accounts. It would be nice to include in your blog or ratings page which banks provide for this service. 

I have accounts at Ally which have been great and very easy to set up. But have not benn able to find other Banks that provide the same service for trust accounts. 

I requested this feature a year ago. Please can anyone provide info on banks with that provide trust accounts?


RickZ   |     |   15 posts since 2010
I'm pretty sure that all of the big banks allow trust accounts. I have a trust account at Alliant Credit Union. It was relatively easy to set-up (every financial institution is going to want copies of the trust, etc.) and Alliant is definitely one of the better financial institutions out there.  Membership may require a $10 donation to their selected charity if you don't otherwise qualify.
ChrisCD   |     |   128 posts since 2010
We have run into banks that initially require you to set-up the account as a personal account, especially on-line banks, but then allow you to re-title it.  We have also run into banks that don't want to deal with what they perceive to be a hassle factor.
scubabelle   |     |   3 posts since 2013
We have accounts titled in our revocable trust with big banks and brokerage houses (such as Bank of America or Morgan Stanley). They're pretty good about it. We also have trust accts with Ally Bank and Melrose CU and Quorum CU. Sometimes the trust thing is a bit of drama. I always call first and see what they'll do and what they require. You have to be patient with the process and paperwork and, sometimes, be a little persistent/pushy. As another member stated, sometimes you have to open in your personal name and then re-title it (make sure they'll do it before you open the acct). Alternatively - what we did with Barclays - they won't title accts in trust but we were able to designate our trust as the beneficiary. Hope that helps! 
highrate   |     |   6 posts since 2016
some banks have them but dont even know they have them. I went to visions and I was told multiple times that they dont offer them.  Then I called corporate hq and spoke to someone in the trust dept and they told me to go in to the branch and tell them to set up a totten trust which is basically the same thing , and then they knew what to do