The characteristics of a totten trust include:

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A Totten trust is a tentative trust created when a depositor opens a bank account in his or her own name, but with the intent that the account will pass to a named beneficiary upon the depositor's death. The trust is tentative because the depositor retains the right to withdraw or change the beneficiary at any time during his or her life. Upon the depositor's death, the beneficiary becomes the owner of the account.

The Characteristics of a Totten Trust Include