Revocable living trust?

[deansaxe]

          Do we need to pull in concepts like a revocable living trust? Does that change anything?

Originally posted by @gffletch in #30 (comment)

[gffletch]

Jean mentioned something in today's working group call along the same lines. She got added as a "co-owner" of her dad's bank accounts. In my case, my dad added his revocable living trust to his bank account and so as trustee I can get access.

I see the revocable living trust as one of the tools in the toolbox for dealing with delegated access to resources; albeit these are usually financial in nature.

[rkzack]

An interesting thing to consider here, is that many Terms of Service Agreements either omit, or even specifically prohibit accounts being titled into, or owned by a trust. This causes a potential problem if a login/account is owned by a revocable living trust, because if the account owner dies, the provider may not recognize the trust as the valid owner of the account, even if the decedent left behind specific instructions stating it was so. Typically, IMHO, online accounts should almost never be placed in revocable living trusts, except for when the provider Terms of Service Agreement specifically provides for it.