Hi Lee Phillips here. I want to give you some advice or talk to you about signing as a trustee when you are trustee you have a fiduciary duty to the beneficiaries you’re the manager of the trust you’re the CEO, the president of the trust whatever you want to call it well we call it trustee and when you conduct business on behalf of the trust you’re not conducting business on your behalf even though you may be the grantor, the guy who put the property in you need to remember and this is important that you have one half when you’re putting the property in you own it as an individual when you put the property in you are now controlling it assuming this
is your living revocable trust and you’re the grantor and the trustee and the beneficiary there are three hats there and you have to remember that you’re wearing your trustee hat so you sign John Doe, trustee and you can abbreviate it “TTEE” is often how they abbreviate it so it’s always what authority, what capacity am i acting in now you’re selling property you’re
moving property or accessing property in the trust that isn’t yours so I need to know what authority you have to do this and by signing your name John Doe,
trustee that gives me the reason why you’re signing on behalf of the trust you’re the trustee and you have powers to do all kinds of things your trust should have a big long list of powers that you can do but always remember you’re doing that as a trustee if you just sign your name personally you may be starting to get in trouble now the question is okay I put my bank account my personal bank account in the name of my trust which you should do you go down and you change the bank from your name to the Trust’s name so it’s now in the trust on the check do I have to sign trustee every time you know, “Lee Philips, trustee” and the answer’s no you can sign anything you want on the
check but on the signature card that sets up the bank account and authorizes the bank account you need the name of the trust, the date of the trust, and then your name as trustee and you need to sign it John Doe, TTEE trustee when you buy your car in the name of your trust and I’ve had some nightmare things with cars lately some of my folks and I call you guys students remember to subscribe we put out these all of the time so just hit the button below and subscribe and
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don’t even have ads on these I just want these to be educational I don’t want to waste your time I want to get right to it get you in get you out on the topic that you’re interested in this is the topic of signing as trustee just remember which hat you’re wearing.