mikep wrote:Signed a revocable living trust yesterday. I spoke with my bank and to change the account to a trust account, would require closing current account and opening a new account.
Possibly this is a case of misunderstood terminology. It appears you and your spouse have a checking and/or savings account and now you want to re-title the owner of the account to be your trust. You should be able to go to the "new accounts" person at the bank and fill out new forms and provide a copy of the pertinent pages of the trust document.
When you said you asked to change the account to a trust account, that can mean something different (in trust for someone else, ie not a revocable trust). Possibly you and the person at the bank were not on the same page. I have found that the up-front people are not the most knowledgeable people. When you go back and still have a problem, ask to speak with the branch manager.
BTW, You don't need to order new checks because of this. In fact, our lawyer said it is better not to have a trust printed on the checks since it can imply that there is a large trust fund behind it, and you could attract more lawsuits.