2.  Not a real trust; just an account at a bank, credit union, or other financial institution.  “A in trust for B.”  “A, trustee for B.”  Other terms:  Totten trust  Savings account trust  Tentative trust

3.  Trustee (depositor) has all rights.  May withdraw without notice to or consent of B.  No split of title.  No imposition of duties.  If more than one trustee (depositor), they own in proportion to their net contributions.

4.  Beneficiaries have rights only after:  All trustees have died.  Beneficiary has survived all trustees.

5.  Avoid probate – money immediately available to beneficiary  Inexpensive  Depositor gives up no control  Effective to make small gifts in large estates

6.  No professional management  Low rate of return  No tax benefits  Confusing to clients  Use Pay on Death accounts instead