Should Personal Bank Accounts Be Closed After Opening The Trust Bank Accounts

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• 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.

• Driver's License or Passport For Opening Trust Bank Account

  It does not matter. The bank accepts both and they are equally private. If absolute privacy is required, this is where a registered banking agent comes in. Through a one-time appointment of an agent with banking privileges to open a bank account on ...

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

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

• Does The Trust Bank Account Need To Be A Personal or Business Account

  One does not need a business account for the trust except when building corporate credit. What matters is that the account is non-interest bearing.

• Bank Denial For Opening A Trust Account

  One may need to try the same bank but a different branch. Most students don't have issues, but everyone has opened a trust account after a 2-3 tries. It all depends on the attorney's interpretation of the trust indenture.