[WSBAPT] Additional/Limited Trustees?

[Jane Bitz]

My client tried to do this for two different Living Trust bank accounts to allow her daughter to manage the accounts for her. Both banks refused.

The banks wanted the current Trustee to resign in favor of a Successor Trustee (or amend the Trust to make the Successor Trustee a Co-Trustee) in order to give them access to the accounts titled in the Trust. My client didn’t like either of these solutions.

My client did not want to resign as Trustee of her Trust, so she set up separate personal accounts at each of the banks, co-owned with her daughter. The Trust accounts “fed” funds into the personal accounts. I believe that they set up authorization for the Trust accounts to keep a certain balance in each of the new accounts where daughter was a signer.


Jane.

Jane G. Bitz
Of Counsel
WHC Attorneys PLLC
12209 E. Mission Ave, Suite 5
Spokane Valley, WA 99206-4824
(509) 927-9700 x126
FAX: (509) 777-1800

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jayne Marsh Gilbert
Sent: Thursday, May 22, 2025 4:15 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Additional/Limited Trustees?

I would do a simple amendment and maybe a certificate of Trust for the bank

On Wed, May 21, 2025 at 8:26 AM Lynn Clare <lynnclare at clarelawfirm.com<mailto:lynnclare at clarelawfirm.com>> wrote:
All

A former client just asked if it was possible to amend a trust to add his adult children (who are already successor trustees and the ultimate beneficiaries of their living trust) as active trustees for the limited purpose of handling transactions at a single bank.

I don't see any reason why this couldn't be done with a simple trust amendment, but will you all point out any potential pit falls I might not be seeing. I have never had this come up before.

Lynn Clare
Clare Law Firm
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