We have a trust account that had the trustee and an authorized signer listed. The trustee had passed away and the current authorized signer is the successor trustee. Do we need to have a new signature card signed?

I think we need a new signature card, however there are others in the bank that disagree since the successor trustee is already on the current signature card. It has been many years since I was in the new accounts area so I'm not sure who is correct and I'm having trouble finding an answer in any of my previous seminar materials. Can anyone help?!

It can depend on the format of you signature card and your company policy. My opinion, the cleanest way is to do a new signature card. In you case I might ask those with a differing opinion to walk you through what their process looks like and then make a decision.

Good luck!

If the trust agreement did not specifically allow for an "authorized signer," it was a mistake to add one. I'd get a new signature card if only to bury my mistakes.