How Do I Get a Copy of a Living Trust?
Why Would Anyone Pick a Trust Over a Will?
The biggest difference between a living trust and a will is that wills only become active after the author has passed away. Trusts become valid immediately upon signing. Wills go through a process called probate, which can be lengthy and complicated, especially if the will is challenged. This is due to the fact that the goal of probate is to:
- Verify that the will’s author has indeed passed away
- Verify that the author in question did write the will
- Verify that the will is valid and up to date
- Address any contestations to the will
- Make the will available for contestation
Trusts are therefore often chosen due to their simplicity.
Can I Get a Copy of a Living Trust?
Here is a simple table explaining how to get a copy of a living trust. Are you an heir, trustee, or beneficiary of the trust?
|Are you an heir, trustee, or beneficiary of the trust?|
|Make a request in writing to the author’s trustee.||If you are not an heir, trustee, or beneficiary, you do not have the legal right to a copy of the trust documents.|
|What if they don’t respond?|
|File a request with probate court detailing your previous attempts to get a copy, and your relationship to the author of the trust agreement.|
How Do You Set Up a Living Trust?
- Revocable trusts: can be altered at any point before a grantor’s death
- Irrevocable trusts: extremely difficult to modify after signing
How Does One Create a Living Trust?
The following methods are the options you have when setting up a living trust. We’ve designed this chart to make it easy for you to find the best method for your unique needs and abilities:
|Cost||Efficiency||Type of Trust||Reliability|
|Lawyer||Estate planning lawyers can cost around $1,200-2,000||Can be time consuming to find the right lawyer and make appointments.||Revocable or Irrevocable Trusts||Very reliable|
|Do It Yourself||Free||Very time consuming.||Best for Revocable Trusts||Varies|
|Online Template||Ranges from $0 - $99, depending on the site||Depends on the quality of the website.||Best for Revocable Trusts||The reliability of website templates vary, but this one may be a good choice.|
|DoNotPay||DoNotPay is $36 every three months and offers 150+ products!||The process is simplified through our chatbot.
[scroll down for full instructions]
|Best for Revocable Trusts||Very reliable|
What Information Do You Need to Create a Living Trust?
- The assets to be put in a trust
Assets that do not need to be put in a living trust include motor vehicles (as vehicles do not have to go through the probate process), Health and Medical Savings Accounts, Retirement Accounts, Life insurance, Uniform Transfers or Uniform Gifts to Minors Accounts (UTMA or UGMA).
- Your beneficiaries
Beneficiaries are the individuals or entities you are entrusting your assets to. If you no longer have specific assets to give away, you can list people as residuary beneficiaries, who will be recipients of the rest of the assets in the trust.
- Your successor trustee and your backup successor trustee
This person will manage the assets without misusing or being entitled to any of them. They are obligated to treat each beneficiary equally. You can add co-trustees that split the duties or assign them specific jobs to do within the trust. You can also make yourself, your spouse, or multiple people as your trustees.
Create a Living Trust with DoNotPay!
Are you ready to create your own living trust? Let DoNotPay set up your living revocable trust in three steps. Our process is designed to be as easy and user-friendly as possible.
- Sign-in to DoNotPay and find the Revocable Living Trust product
- Tell us which state you reside in
- Answer more questions about your trustees, beneficiaries, and assets
It’s as easy as that! Once you’re done, a revocable living trust will be created for you.
State Living Trust Guides
|Washington State||New Jersey||Louisiana|
|New York||North Carolina|
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