If a bank account is held as "A and B as trustees for A's revocable living trust" when do beneficiaries of A's trust have ownership rights to account balances? When A dies or when both A and B die?
What if account was held with A as sole trustee ("A ATF A's RLT") before B was added as holder?
Note: A's RLT is not a joint marital trust. It becomes irrevocable on A's death. B is not co-trustee with A, but is successor trustee and becomes trustee upon A's death or disability. Right to remove property from trust is reserved by A as trust maker. Residuary clause of trust only applies to "tangible personal property." There is pour-over will with copy attached to trust declaration, but original will is lost.Note: This is in Illinois. Please refer to 205 ILCS 625/3. We need help figuring out this part: "(a) If two or more persons are designated trustees of the account, as between them they shall hold the account and all balances therein which exist from time to time as joint tenants with right of survivorship and not as tenants in common" This seems inconsistent with the idea that trustees hold property for the benefit of the beneficiaries.