My aunt died and left her estate to be divided between myself and my
brother.  Among her accounts was a trust account in my name. 
Eventhough my brother was the executor of the estate, only I was
allowed to close the account.  Do the contents of the account belong
solely to me or am I required to divide them with my brother?

Hello.

First of all, I must emphasize that Google Answers provides general
information, not professional legal advice.  The principles below are
not intended as legal advice and should not be taken as such. If you
need professional legal advice, you should contact a qualified
attorney in your area.

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A bank account in trust for a beneficiary (e.g., you) is sometimes
called a "payable on death" account or "Totten Trust," named after a
famous New York case called "In Re Totten" (1904).

Generally speaking, when the original depositor dies, the beneficiary
named on the account gets the contents of the account.  The
beneficiary would not have to divide the account with someone not
named on the account.

Basically, the only situation in which this general rule would not
apply is if the depositor's will contains a provision revoking,
terminating or modifying the account.


Here is the specific New York law on the issue:

"New York State Consolidated Laws,  Estates, Powers & Trusts
PART 5. Bank Accounts in Trust Form
...
S 7-5.2 Terms of a trust account
...
 (4) If the beneficiary survives the depositor, and the depositor`s
will contains no provision revoking, terminating or modifying the trust
account under paragraph (2), the trust shall terminate and title to the
funds shall vest in the beneficiary free and clear of the trust.
...
S 7-5.3 Payment to beneficiary
  (a) If the beneficiary survives the depositor under the circumstances
provided in paragraph four of section 7-5.2, the funds shall be paid to
the beneficiary upon his order, if, at the time of his demand for
payment of all or part of the funds, he is eighteen or more years of
age."

source: New York State Consolidated Laws
http://assembly.state.ny.us/leg/?cl=38&a=30


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Also see:

"What It Is
A Totten trust (which got its name from the New York case In re
Totten) is typically an account in a bank or savings and loan
association.
The Totten trust is in the name of a trustee, also known as the
"settlor" or "grantor," who holds the account for the beneficiaries.
When the trustee dies, the funds are automatically transferred to the
beneficiaries."
source: Fabio & Merrill
http://www.fabiomerrill.com/article.jsp?practArea=37&articleIndex=1

"Totten Trust
A "totten trust" is a bank account titled in the name of a depositor
"... in trust for ...", and the name of a beneficiary. The depositor
is the exclusive owner of the account during his or her lifetime, and
the account may be closed by the depositor at any time while he or she
is alive or by providing that the account be revoked within their
Will. If not revoked, the assets remaining in the account will
automatically become the property of the beneficiary upon the
depositor's death."
source: newyorkqnews.com 
http://www.newyorkqnews.com/2004_03/elderlaw.html

"The Totten Trust"
http://www.toolkit.cch.com/text/P12_3531.asp

"Totten Trust Accounts"
http://www.usalliance.org/html/savinv5b.htm

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search strategy:
"new york" "totten trust"
"in re totten" "new york"
"new york" statutes

Thanks!