Help. I was asked to post this question on opening trust savings accounts. We have customer's who want to open a trust account and all they provide is a copy of a will. We normally ask for notorized trust documents but now were getting push back from customers stating they don't need trust documents if a will is provided and they refuse to get documents notorized. Curious as to what other banks ask for when a customer wants to open trust accounts and if notorization is required.

For a formal revocable/irrevocable trust account we only accept a formal trust document that has been notorized. We never accept wills.

For estate accounts we require certified Letters of Office or a Small Estates Affadavit.

A will means nothing to you...don't even bother accepting it. You never take direction from a will anyways, so it means nothing to you.

We prefer the entire trust packet, as it later on discusses successor trustees in the event something should happen to the current trustees, but most customers are being advised elsewhere not to share the whole document. Whatever.

We do require that the customer provide us with the front page or two of the trust showing how the account is to be titled, and who the initial trustees are, or any pages showing a change to that if there have been changes since the inception of the trust (ie. a family trust where Dad has since died and daughter is now trustee in his place with Mom). We also require the page(s) of notarized signatures.

Sometimes, the Attorney will draft a summary page of the trusts highlight points that apply to the bank, which details all the info you need in a one or two page format. This will also be signed and notarized by all parties. We are happy to accept this also.

Any less than that, we politely decline the account.

There are times we will accept a will. If the will identified that a trust is to be set up upon the death and names the trustee/s and successor trustee/s we will use that document to set up the trust.

There are "trusts under agreement" and there are "trusts under a will." With the latter, the will is the only document there is.

Obviously, the trust under a will does not take effect until the testator is deceased. The orignal document will have been filed of record and you will be assured that you received a complete and accurate copy by asking that it be certified, not notarized, by the clerk of the court.