Trust as Valid Will Substitutes: Revocable Trust and Bank Account Trust

Question 1

Totten Trust

Answer 1

Bank Account Trust

• Is revocable during the life by manifestation of intent to revoke including w/drawls
• the account is reachable by depositors creditors during life, and
• In Nevada, it also may be reached after creditors death to the extent the depositors probate assets are insufficient to pay his creditors

Extrinsic evidence is admissible.