November 21, 2016 - 10:03am
#1
If your credit union offers accounts for irrevocable trusts, do you have any additional internal controls beyond what is in place for revocable trusts? It seems that the additional risk with these accounts would be legal action stemming from either (1) trustee mismanagement or (2) allowing the grantor to act on the account. If anyone has any thoughts regarding the handling of irrevocable trusts, your feedback would be appreciated. Thank you!
