Trust Planning

Trust Planning

Estate Planning and Wealth Management

Totten Trust definition

What is a Totten trust? A Totten Trust is an informal trust created during the lifetime of the grantor, where the grantor deposits money into an account at a bank or other financial institution in the grantor’s name as trustee for another person. This is not considered to be a completed gift until either the grantor’s death or the happening of some other event that indisputably reflects the gift during the grantor’s lifetime.

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