People may open bank accounts in their own names "in trust" for someone else, without signing any other trust instrument.

Name: People may open bank accounts in their own names "in trust" for someone else, without signing any other trust instrument.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is known as a "nominee account." However, the actual ownership of the account remains with the person in whose name the account has been opened. The nominee only acts as a custodian or manager of the account.

People May Open Bank Accounts in Their Own Names "In