Legal Question in Wills and Trusts in Tennessee

Trust Chscking account

Can an irrevocable trust checking account be used for personal deposits and withdrewals?


Asked on 8/06/07, 12:01 am

1 Answer from Attorneys
James Swain Swain Law Firm

Re: Trust Chscking account

You are asking for trouble. Any moneys deposited into the trust accounts become the property of the trust. If you withdraw money from teh trust for your personal use you would be violating your fiduciary duties.

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Answered on 8/15/07, 5:05 pm


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