Having a bank account for your trust can help you move assets, such as cash, into the trust. Keep in mind that when you include assets (like a checking or savings account) in an irrevocable trust, the ownership of that account is transferred from your name into the name of the trust. Once an account is moved into a trust, you cannot access the funds being held, so you shouldn’t include accounts that you still need to pay bills from or access for regular living expenses. You must also change the ownership of annuities and safety deposit boxes if you include them in your trust.