Where do you get trust information in Los Angeles? When you prepare for your living trust consultation, the first question that may come to mind is what living trust information do I need? Actually, there are different types of information that you may want to consider gathering depending on our particular circumstances and the type of living trust consultation you seek. Sirkin Law Group offers a certified specialist and a skilled trust attorney in Los Angeles to answer all of your questions about living trusts.
First: The information you will need to prepare yourself for a living trust consultation or in estate planning:
Normally, each attorney’s office has a fact-gathering package that a proposed client completes before the initial living trust consultation appointment. In our office, we call this a Family Information Package. This form allows you to handwrite or type your basic family information data and bring it with you when you arrive at our office. The form is intended to make you think of questions to ask, and prompts you to think of issues that you may wish to think about before you come into an attorney’s office.
Second: The information you will need to enable your loved ones to administer or settle your living trust, in the event of your demise:
Your loved ones will need several types of information to start the trust administration or trust settlement process. They need to gather your trust and will, your financial account information, and your tax information. The original trust or will tells the attorney what type of process to start for your case. Your financial account data tells the attorney if the asset is in the trust, or out of the trust. Assets that have beneficiaries pass outside of the will, directly to the beneficiary. If there is no beneficiary named on the account and the account is not titled in the name of the trust, the living trust attorney then looks for ways to get the asset into the trust, sometimes entirely without probate. Other times, it may require a probate but the data is where it all starts. You need to gather copies of deeds and property tax bills and place them in a folder where your trustee can have easy access to that information.
Third: The Information or documents you will need if you are the trustee or successor trustee of a Los Angeles Living Trust:
Title documents to real property and title to personal property such as a car is a first step in viewing the big picture of a living trust. Copy your deeds and pink slips to your car and give directions to the successor trustee in writing where the originals may be located. You also need to determine if there is a tangible personal property distribution instruction in the estate plan. Tax returns are important because your successor trustee must quickly determine which tax returns you have done and which still remain to be filed with the IRS. Your IRA mandatory distribution data is also very important if your executor or trustee is to take possession of the mandatory distributions which were due you before your death. Your instruction sheets will identify to which account the annual IRA distributions were deposited.
What do you need to categorize the necessary data for a living trust?
Financial account information.
Original estate planning or living trust document location information.
Copies of stock certificates if not in a financial institution and directions where the original certificates are held.
If you are looking for living trust costs or living trust information, look no further than Sirkin Law Group in Los Angeles to guide you about what needs to be done to prepare for your estate plan. Call 818.340.4479