(Formerly Standard 31)
PGTS Standard
49. Written requests are obtained and appropriately verified by a method approved in writing by legal counsel who is authorized to practice in the applicable jurisdiction for all withdrawals from or revocations of revocable trusts. [PGTS]
Written Instructions
Any
Any time a trustor wants to withdraw assets from a revocable trust, there must be signed written instructions from the trustor that clearly states the requested change. In the case of multiple trustors, be sure to check the trust document to see if you can accept these instructions from one trustor alone or if you need both to sign the withdrawal request.
Any trust revocations must have signed written instructions from the trustor, or trustors if there is more than one, stating they are revoking the Trust.
These signed written instructions must be kept in the trustor’s file.
Your local legal counsel must approve the process your office uses to receive the instructions and properly identify the person who is giving instructions to withdraw assets from or revoke a trust.
An email may not count as a written instruction, you will need to check with your legal counsel to determine if that is an acceptable method. An email may be considered the same as a phone call and merely serve as a method to start the process.
You should work with your attorney to determine what methods, and under what circumstances, the written request will be considered acceptable.