Chase Bank Did Not Approve Trust Bank Account

Chase Bank Did Not Approve Trust Bank Account

Unfortunately, due to the issues with Chase Bank stated below we are no longer recommending them. We've found that Chase is requiring the following (at the very least):
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1. Article 14.02 removed.
2. All references to a "head/executive trustee" must be removed.
3. A statement empowering all trustees with equal authority and to operate independently.
4. No electronic signatures from online notary services; only wet signatures are acceptable.
5. State laws must be named.

If Article XIV is questioned, the best solution at this moment is to REMOVE Article XIV and place it in the trust minutes. The banks have been taking this to be a fiduciary duty on their part (it is not). If the bank does not approve Article III, then a state can be named in 3.01 as such: The Trust shall be governed under the laws of [State].
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