Cal. PROB § 80
This is the official text of Cal. PROB § 80, part of California’s Probate Code — governs wills, trusts, estates, and conservatorships.
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Official statutory text
“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.
Status: in_force · Read it on the official government site
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