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The Title on a Signature Card

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Question: 
Does the name of a Trust/POD/ITF need to be in the title of a signature card?
Answer: 

Not necessarily. The nature of the account as a revocable trust, pay on death or ITF account must be noted in the account title, which can be accomplished in the bank's electronic records with a simple code, if the concern is FDIC insurance coverage. Any other consideration as to what might have to be reflected on the signature card would be a function of state law.

First published on BankersOnline.com 1/17/11

First published on 01/17/2011

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