Bank accounts, safe deposit boxes, stock accounts, everything you sign your name for needs to be assigned to the trust. Technically the assets aren’t “assigned” to the trust. Ownership of the assets is changed from you to the trust.
In the bank situation, you need to take a copy of the signed trust down to your bank. (Actually, if you have it, you will take a copy of the certificate of trust or certification of trust to the bank.) The bank ...Continue Reading →