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#2064768 - 02/18/16 02:52 PM Joint Business Accounts
LSmith Offline
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LSmith
Joined: Dec 2002
Posts: 703
We have a customer that is the Trustee for three Trusts and wants all three names as joint on a checking account. How can I explain we can't do this?

ABC Testamentary Trust
BCA Private Revocable Trust
CBA Family Private Revocable Living Trust

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Deposits and Payments
#2064769 - 02/18/16 02:58 PM Re: Joint Business Accounts LSmith
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,356
Galveston, TX
You can't. They cannot under their fiduciary duties co-mingle trust funds from different trusts. They need to see legal counsel pronto.
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