Estate planning options at NBT Bank

NBT's Consumer Deposit Account Agreement provides a "Revocable Trust Account" form of ownership, in which named beneficiaries receive the account after the death of the persons who created it.¹

If two or more beneficiaries survive all persons creating the account, they own the account in equal shares, without right of survivorship.¹

The form of ownership and any beneficiary designation are those "specified on the account records."¹

The persons who create a Revocable Trust Account "reserve the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time."¹

Beneficiaries of a Revocable Trust Account cannot withdraw unless all persons creating the account die and the beneficiary is then living.¹

NBT reserves the right to refuse some forms of ownership and beneficiary designations, and makes no representations as to their appropriateness or effect except as they determine to whom NBT pays the account funds.¹

NBT's deposit agreements state: "This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders."^{1, 2}

NBT's deposit agreements state: "You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters."^{1, 2}

NBT's FAQ lists "Custodial and/or Trust Accounts" among the accounts not eligible for its External Account Transfer service.³

NBT also reserves the right to refuse some forms of ownership.¹

Trusts that NBT administers as trustee⁴