Matter of Totten

Facts

Beginning in 1886, Fanny A. Lattan maintained numerous bank accounts at the Irving Savings Institution and other banks, some in her name and others styled as trustee accounts for various individuals, including Emile R. Lattan. Though some accounts named beneficiaries, Fanny kept full control—retaining the passbooks, withdrawing funds at will, and treating the accounts as her own. Emile R. Lattan never accessed any funds unless through Fanny. In one account opened in trust for Emile in 1886, she later crossed out the trustee designation and eventually closed the account in 1898, redistributing the balance into two new trust accounts—one for Emile and one for another individual. Both accounts remained open until her death in 1900, and the beneficiaries later received the funds. A similar account opened in 1890 for Emile was funded from other trust accounts but later closed in 1894, with the balance moved to a trust account for Lewis H. Lattan. Emile was the son of Lewis H. Lattan, who had handed over his property to Fanny and her sister for management in 1884, but never received an accounting.