WA Trustee for a minor's bank account

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4 April 2020
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If you are a trustee for a minor's bank account, is that bank account an estate or non-estate asset? It seems obvious that its a non-estate asset as the child is the nominated beneficiary. But I can't seem to find what happens if the trustee dies? Could their be another trustee outlined in the deed or would the account just go into the child's name?

Thanks
 

Rob Legat - SBPL

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A new trustee is determined. In many cases, the executor of the trustee's estate becomes the new trustee for at least the interim.
 

Tim W

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28 April 2014
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Is the account formally set up as trust or,
is it less formal... such as if it's (only) in Grandma's name,
but with a sort of "understanding in the family" ?

The latter can still be a trust, but it depends a little on the facts and circumstances.