Q: What is the difference between the “establishment date” and the “execution date” on a revocable living trust?
We are trying to get a saving account name changed at a national bank. We gave them a copy of our legal, notarized living trust and they indicated that the “establishment date” and the date the trust was “executed” needed to be the same date. This is the first time this has ever occurred for us and we have several other accounts from different banks already named in the trust.
A: That is the Bank's own rules. You will need to find another Bank as you will not want to settle the Trust and reexecute another one just for this one account.
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