How to Transfer a Bank Account Into Your Michigan Trust

Establishing a Revocable Living Trust is a powerful way to protect your assets and ensure they transfer smoothly to your beneficiaries. But simply signing a Trust isn’t enough — you must fund it. Funding means moving ownership of assets into the Trust’s name. Under Michigan’s Estates and Protected Individuals Code (“EPIC”), a fully funded Trust allows assets to avoid probate, keeping your affairs private and ensuring quick distribution of funds. 

One of the most common assets to fund into a Trust is a bank account — checking, savings, money market, or CDs. This guide gives Michigan-specific instructions to properly transfer a bank account into your Trust so that EPIC governs the asset, not the probate court.

Why Banks Need Formal Retitling

When an account remains titled in your personal name, it becomes part of your probate estate unless it qualifies for an exception. Probate in Michigan is a public and often slow legal process. A funded Trust avoids probate because the Trust—not you personally—owns the account.

Not all accounts need to be moved into a Trust. Examples:

• Daily-use checking accounts you don’t want restricted
• Small accounts you instead designate with Payable-on-Death (POD) beneficiaries

Under Michigan law, POD beneficiary designations are valid “non-probate transfers” (MCL 700.6101).

Step-by-Step: How to Transfer a Bank Account Into Your Trust

Step 1: Create Your Trust

Before a bank can change ownership, you need signed Trust documents. Michigan recognizes both revocable and irrevocable Trusts under EPIC.

Step 2: Contact Your Bank

Each bank has its own Trust department and procedures. Tell them you want to **retitle an existing account to your Revocable Living Trust**.

You may be asked to provide:

• Account numbers
• Trustee information
• Trust name and date
• Your Social Security Number (used as Trust TIN for Revocable Trusts per IRS guidelines)

Step 3: Provide Your Certificate of Trust

Michigan law allows you to give the bank a Certificate of Trust, instead of giving them your private full Trust document (MCL 700.7913). The Certificate proves:

• The Trust exists
• Who the Trustees are
• Trustee powers to open/maintain accounts

Step 4: Sign Bank Documents

The bank will prepare and require:

• New signature card(s)
• Trustee certification / ownership change form
• Updated deposit agreement

Your account will then be retitled to something like:

“Jane Doe, Trustee of the Doe Family Trust dated May 2, 2026”

Step 5: Confirm Account Titling

Request written confirmation or new statements to ensure:

• Account shows Trust ownership
• Online banking reflects Trustee name

Most banks do not require a new account number, but some do.

Alternative Option: Use POD Instead of Trust Ownership

If you prefer, EPIC permits designating a Payable-on-Death (POD) beneficiary as a non-probate transfer. This keeps the account outside probate without Trust ownership.

Example POD designation:

• Primary beneficiary:Spouse
• Contingent beneficiary:Trust

This option is usually recommended for IRA’s. This option also avoids probate, but does not give the Trustee control if you become incapacitated. A Trust-owned account does.

Final Thoughts

Transferring a bank account into a Trust ensures immediate control by your successor Trustee if you become incapacitated and complete avoidance of probate under Michigan’s EPIC. It is one of the most efficient and protective components of a Trust-based estate plan.

Prime Trust & Wills Platform, LLC 

Prime Trust & Wills Platform allows you to easily create your Will, Trust, Power of Attorney, and Healthcare Directive to ensure you get peace of mind, your assets pass to your loved ones, and taxes are minimized or eliminated.

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified Michigan estate planning attorney before making decisions based on this content.