Legal Question in Wills and Trusts in Illinois
My father wants my wife to be able to sign checks for him in an emergency. He has a trust and the bank is telling him that she has to be added to the trust in order for this to happen. The bank will not let her sign the signature card unless this happens. I, as the son, am on the trust as Power of Attorney. Therefore, is the bank giving us the right information? Is this an expensive process? Does the whole trust have to be redone or only an ammendmant has to be added to include my wife on the trust?
2 Answers from Attorneys
If the account is owned by your father's Trust, then the Bank wants to see that your wife has been appointed as a Trustee. Most Trusts easily allow for the appointment of another Trustee. This is probably a simple process for an attorney to guide you through. However, this may be very difficult for you to accomplish without legal assistance. Feel free to call me to discuss this further. I won't charge for the phone call.
I agree with all of Mr. Raminiak's response.
You write: "I, as the son, am on the trust as Power of Attorney. Therefore, is the bank giving us the right information?"
Yes. Only Trustee control assets in the trust. You need to have an attorney review the documents because if you are "on the trust" then you are a trustee. If so, your wife can be added to serve with you as cotrustee, or she can replace you.
If you need help: www.legacylaws.com
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
