How Do Trusts Without Bank Accounts Pay Trustees

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• Can A Single Trust Have Multiple Bank Accounts & Accounts At Different Banks

  Yes, one can open multiple bank accounts with a single trust.

• Is It A Good Idea to Open Additional Trust Accounts While At The Bank

  Yes, open any additional accounts while at the bank. Opening additional accounts will take an extra 20-30 minutes compared to 2-3 hours if one came back another day.

• Is It Required to Have 3 Trustees

  While one can change the paperwork in the Trust Indenture to require only one trustee, the paperwork is designed to have three trustees for the following reasons: 1) If multiple trusts get called into court, due to their normal interactions in ...

• Does Fighting A Debt With A Bank Mean Other Cards and Accounts With The Same Bank Will Be Closed

  No. Removing a debt from a bank will not affect any other accounts, save the credit score reduction while fighting the debt.

• If Trust Requires 3 Trustees - Can One Use The Same Trustees For All Trusts

  Yes, one can use the same trustees for all trusts created. The legal reasoning behind having (3) trustees, is due to the fact that having 50% control or more of a trust as trustee can lead to undesirable results when defending a trust in court. ...