How Do I Open a Trust Account at Wells Fargo?

What it costs

Wells Fargo does not state the monthly fee or fee-waiver balance for a trust account.

Schedule that applies

Not stated; neither the Consumer nor the Business schedule lists a trust account, and unlisted account types are referred to a banker

For trust accounts

The trustee of a Premier Checking, Private Bank Checking or Private Bank Interest Checking account qualifies for the business-account fee waiver as an owner does. Wells Fargo fiduciary and custody accounts count toward the Prime and Premier Checking qualifying balances.

What to know at Wells Fargo

Wells Fargo's Deposit Account Agreement lists "Death of the grantor of a revocable family/living trust" as a CD early-withdrawal exception.

Not in Wells Fargo's published guidance

• Which documents it asks for
• Whether the account is opened under the grantor's SSN or the trust's EIN
• Whether a certification of trust or the full trust document is needed
• Whether it has its own certification of trust form
• Whether an existing account can be retitled to the trust
• Whether a branch appointment is needed
• Whether every co-trustee must sign or appear
• Whether you must already bank there
• Whether the account comes with online banking, checks, or a debit card

After the grantor dies: the successor trustee at Wells Fargo

Death certificate

Certified copy

Wells Fargo's Estate Care Center handles the successor trustee as part of its deceased-customer procedure, and the account "can be closed or retitled." The Estate Care Center line is 1-888-790-7980 (Monday through Friday 8:00 a.m. to 8:30 p.m. Eastern Time).