We have five certificates of deposit (CDs) owned by a trust. The original co-trustees of the trust, husband and wife, signed the signature cards for the CDs. They later amended the trust documents to remove the wife as co-trustee. Does the wife have any rights in the CDs?

Because the wife has been removed as co-trustee, her rights as trustee have terminated, and she should not exercise control over the trust’s CDs. We recommend replacing the current signature cards for the CDs with new signature cards signed by the current co-trustees to reflect the amended trust terms.