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When wondering how to find out if a trust exists in your name, there are certain steps you should follow. At Rockpoint Probate Funding, we can help heirs receive funds ahead of the distribution of a trust. We may be able to help while you’re trying to determine the existence of trust documents.
Learn more about the steps required below.
How Do I Know Whether I Have a Trust?
Figuring out how to find out if a trust exists in your name can be a challenging process. These documents normally aren’t part of the public record. One benefit to using a trust is that you can avoid having to go through probate court. Therefore, local courts will have no record of any trust as part of normal estate or probate filing.
Ideally, the executor or trustee would provide you with copies of the trust documents before your loved one passes away. At the very least, the executor should let you know who holds the trust documents so you can find them later.
Some Aspects of a Trust Could Be Part of the Public Record
Even though a trust doesn’t need to be a matter of public record, you may be able to find documents hinting at the existence of one. Clues you could potentially use include:
- Real estate: If the trust has real estate, the deed for the property may include its transfer into the trust as part of the public record.
- Disputes: If any legal property disputes related to the deed that’s part of the trust occur, such disputes may be part of the public record, indicating the existence of a trust.
- Testamentary trust: Although testamentary trusts are rare, if a will calls for the creation of a trust, the will is part of the public record and will point to the trust’s existence.
Who Should I Contact To Find Out If a Trust Exists?
Your loved one could not have created a legal trust without the help of another person, usually an attorney. If you know which attorneys represented your loved one during his or her life, you can reach out to see whether they know of the existence of a trust.
You may also want to contact an accountant who served your loved one. This professional potentially helped them set up the trust by handling all pertinent financial information.
If you cannot find an attorney or accountant who knows whether a trust exists, try reaching out to other family members and friends of your loved one.
How a Successor Trustee Works
It’s possible that your loved one set up a successor trustee who has the legal authorization to handle the trust. This trustee assumes the responsibilities of the trust after your loved one passes away, including the proper distribution of any assets bequeathed to surviving family members.
Ideally, the successor trustee would reach out to you directly after your loved one’s death if you are the beneficiary of the trust. However, if the successor trustee does not know how to contact you, you might miss out on receiving this information.
The trustee may also neglect their duties intentionally. This usually happens when the trustee attempts to steal the deceased’s assets by hiding the existence of the trust from the family. Although this is uncommon enough that it shouldn’t be your first assumption, it’s important to keep it on your radar as a possibility if you sense anything suspicious going on.
Places You Could Look When Searching for a Trust
If you cannot find anyone who knows of the trust, you can start searching for the document itself. The following are some of the places people have been known to keep trusts where you might try looking:
- Safe deposit box
- Safe at your loved one’s home
- Stored in a file cabinet at home
- Stored on a personal laptop
- Kept in a fireproof box with other important documents, like the deed to a home or the title to a car
It’s far easier to track down a trust by speaking with an attorney or accountant who knows about the document. However, searching by hand can be a last resort.
Hiring a Probate Attorney Is a Key Step for How To Find Out If a Trust Exists
If you simply don’t know how to find out if a trust exists in your name, or if you know one exists but you cannot find it, consider hiring a probate attorney. This professional can look for clues that would determine the existence of the trust and who is holding the documents.
It’s important to decide on hiring a probate attorney as early as possible. You don’t want the estate to go through probate unnecessarily only to find out afterward that a trust existed all along.
Rockpoint Can Help While You Wait for the Trust’s Proceeds
Funding a living trust helps many ensure their assets go to the proper beneficiaries as part of an inheritance. After understanding trusts and how they work, you may discover a trust waiting for you. But even if you have trouble locating the document, it will take some time before you receive what is rightfully yours.
If so, you might need Rockpoint’s help. We focus on transparency, privacy, and client-focused services. We deliver financial support for clients nationwide. If you need some money while waiting for your inheritance from the trust, Rockpoint may be able to help. Call us today at (855) 699-6446 for a free consultation.
