Question:
I have a property in Nevada but on escrow now. I would like to make the purchase in the name of my living trust. Only problem now is I am outside the country and have not opened a living trust account yet in my bank. How can I open the living trust account from abroad?
Response:
That’s difficult because most banks or trust companies require the person opening the account to show up in person. Two ideas: First, appoint a co-trustee in the United States who can open and manage the account. Second, see if you can open an account at an on-line bank. I don’t know if that’s possible, but it’s worth checking out. However, you should also consult with a Nevada real estate attorney. There may be title reasons that require an in-state, or at least in United States, trustee.
(Readers, be aware that a “living” trust is just another name for a “revocable” trust.)
