§ 80 Totten Trust Account Definition

Probate Code·California

AI SummaryVerified

This law explains what a Totten trust account is and says it only covers the money in the account, not any other property.

Key Takeaways

•A Totten trust account is created by the way the account is set up and the deposit agreement.
•It only covers the money that is actually deposited in the account.
•It does NOT include regular trusts that have other assets or fiduciary relationships like attorney‑client accounts.

Example

A parent opens a bank account in their own name but writes that the money is for their child and tells the bank it’s a Totten trust.

The account is treated just as a regular deposit account that holds the child’s money; the trust only includes the cash in the account and nothing else.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 80 Totten Trust Account Definition

“Totten trust account” means an account in the name of one or more parties as trustee for one or more beneficiaries where the relationship is established by the form of the account and the deposit agreement with the financial institution and there is no subject of the trust other than the sums on deposit in the account. In a Totten trust account, it is not essential that payment to the beneficiary be mentioned in the deposit agreement. A Totten trust account does not include (1) a regular trust account under a testamentary trust or a trust agreement which has significance apart from the account or (2) a fiduciary account arising from a fiduciary relation such as attorney-client. (Enacted by Stats. 1990, Ch. 79.)

Last verified: January 11, 2026

Key Terms

Totten trust account trustee beneficiaries deposit agreement testamentary trust fiduciary account

References

Official text at leginfo.legislature.ca.gov
California Legislature. Probate Code. Section 80.

§ 80 Totten Trust Account Definition

Probate Code·California

AI SummaryVerified

§ 80 Totten Trust Account Definition

This law explains what a Totten trust account is and says it only covers the money in the account, not any other property.

Key Takeaways

•A Totten trust account is created by the way the account is set up and the deposit agreement.
•It only covers the money that is actually deposited in the account.
•It does NOT include regular trusts that have other assets or fiduciary relationships like attorney‑client accounts.

Example

A parent opens a bank account in their own name but writes that the money is for their child and tells the bank it’s a Totten trust.

The account is treated just as a regular deposit account that holds the child’s money; the trust only includes the cash in the account and nothing else.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 80 Totten Trust Account Definition

Last verified: January 11, 2026

Key Terms

Totten trust account trustee beneficiaries deposit agreement testamentary trust fiduciary account

References

Official text at leginfo.legislature.ca.gov
California Legislature. Probate Code. Section 80.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References