What is the name of your state? Michigan -- My Uncle, will call him U1, had his name put on his bother's, will call him U2, bank accounts as ITF, as opposed to Joint Tenants. He says it stands for "In Trust For". U2 just recently died and U1 claims he has to get U2's name off the accounts ASAP because any interest earned goes into the estate. I have two questions. 1) What is an account setup as ITF (I can find anything about this on the web) and 2) does U1 really need to worry about getting the names changed in order to avoid filing a 1041 form?