Signature card at a bank
I don’t know if you can answer this, but maybe you can comment. My sister got a trust. She wanted two brothers as co-trustees (not co-succcessor trustees) in case she becomes incapacitated and she just wanted somebody else to have access to her money. Last Saturday we went to two banks and both banks told us that the two brothers would have to come into the bank anytime my sister gets a new CD to sign. The two brothers do not live close to the sister. We all think this is ridiculous, i.e., the signature card should be tied to the account not to a product. Please comment if you can.
Terry Says
I can comment: that is absolutely ridiculous! Go back and speak to a bank OFFICER, not the clerk at the window! That person gave you incorrect information. Once the account is opened and you give the bank the trust documents, then the signers to the account are empowered to act. And these days everything is done online once the account is opened. Which banks did you go to???
