Posted by: Woodfork Law | June 21, 2013

The “Certification of Trust”

In a previous post, I mentioned that banks and financial institutions are much less suspicious of trusts than powers of attorney.  I mentioned this in advocating trusts for planning for possible incapacity.  So what does the bank want to see regarding trusts? You should be able to present to the bank a “Certification of Trust” instead of the entire trust.

A Certification of Trust must contain the date the trust was established, the trustor, name and address of trustee, powers of trustee, revocability of the trust, any co-trustees, and manner of title of trust property.  Finally, it must state that the trust has not been revoked, modified, or amended.  The Certificate of Trust does not need to be notarized.

Although the Certificate of Trust should satisfy bank requirements, some banks may ask for relevant excerpts from the trust giving you authority.

http://www.woodforkandassociates.com

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