What do many of you do when a person(s) opens a trust with your bank with themselves as trustees? Do you retain a copy of the trust? Do you look at it for titling purposes and give it back? Do you take their word for it? We are in discussion about that. Some want the whole thing to see who gets the money in the event of death or to see successor trustees. Some don't want to be seen as a lawyer in interpreting what the trust says, but would look at a trust for disposition of funds in event of death. How would you know if there had been an amendment after you got an initial copy? Would the bank be liable for giving money to the wrong person? Wouldn't you just make the check out to "the x and y trust"; then let whoever sign it and deal with it from there? At least you have made the check to the "owner". You are not making decisions about who is entitle to the money.

I review the trusts,POAs,letters of administration,guardianship... for my institution (i know, scary thought) and i have worked in two institutions with different views.

1. Require the whole trust to examine and make sure it is not a type of trust we would not accept. i.e. common law trust....there is nothing within the trust that would require us to do any monitoring that we would not realistically be able to do...If you keep the trust it will be assumed that you have read it ALL and will abide by the terms.

2. Only accept either a certificate of trust or just the first and last pages to determine who the grantor(s) and trustee(s) are,date established and legal titling of trust. If the whole trust is not required and we don't read it then we are not subject to the terms of the trust. A trust indemnity agreement is signed by the settlor(s) and trustee(s)for both scenarios. If a successor trustee comes in to continue to manage the property...we would require the trust at that time to review, have them sign a successor trustee affidavit, but give back the trust.

Texas law allows you to accept and rely on a trust certification...