Answer:
No, the terms of the trust will dictate what happens. The trust might have to be wound down, or it might become irrevocable, or there might be another resolution. The trust did not die; its trustor or trustee did. It would be a major error for you to move the funds out of the account and into an estate account. If you are uncertain about what to do, consult bank counsel before doing anything.
First published on BankersOnline.com 5/24/10
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