If you believe a loved one has passed away with a trust in place, determining whether the document exists and locating it can be crucial, especially if you are named as a beneficiary or trustee.
Trusts are typically designed to bypass the probate process, making them private and more difficult to find than wills. However, there are steps you can take to locate a trust and ensure that its terms are followed.
Let our probate attorneys guide you through understanding what a trust is, the methods for locating a trust, and the legal rights of beneficiaries in Texas.
What is a Trust and How Does It Work After the Settlor’s Death?
A trust is a legal agreement where one party, known as the trustee, holds and manages assets for the benefit of another party, called the beneficiary.
Trusts are often used as part of an estate plan to ensure the smooth transfer of assets after the death of the trust’s creator, also called the settlor. After the settlor’s death, the trust becomes irrevocable, and the trustee is responsible for distributing the assets according to the trust’s terms. Understanding this framework is essential when beginning your search for the trust document.
Are Trusts Part of Public Records?
Unlike wills, which often go through probate and become part of public records, trusts are generally not filed with any public entity. This privacy is one of the significant benefits of a trust but also makes locating it more difficult.
Trusts bypass the court system entirely, meaning they are not registered with the county or state. Unless the trust has been involved in litigation or contains real estate that required a deed transfer, it is unlikely that you will find any record of it in public documents.
However, if the trust involved real estate, property deeds transferring assets to the trustee may be recorded with the local county clerk. While these deeds will not reveal the entire trust, they could provide evidence of its existence.
Who to Contact When Searching for a Trust
When trying to locate a trust, several individuals may have critical information or even hold the trust documents themselves.
One of the first people to reach out to is the successor trustee, who is named in the trust to take over management of the assets upon the settlor’s death. The successor trustee is usually responsible for ensuring that the beneficiaries receive their share of the assets, and they are likely to have the trust document or know its location.
If the trustee is uncooperative or claims they do not have the trust document, professionals who were involved in the trust’s creation can be another valuable resource.
Estate planning attorneys, financial advisors, and accountants who worked with the decedent may have retained a copy of the trust or have records that indicate its existence. These professionals often keep copies of legal documents in case they are needed later, and they may know where the original documents were stored.
Close family members of the decedent may also be able to help. If the decedent left the trust in a safety deposit box, home safe, or another secure location, a spouse, sibling, or adult child might know where to find it. Family members may also have seen the trust documents or been involved in conversations about estate planning, which can provide clues about where to look.
How to Access Safety Deposit Boxes or Home Safes
One of the most common places to store a trust document is in a safety deposit box at a bank or in a home safe. Gaining access to these places, however, can pose challenges depending on who had ownership of the box or safe.
In Texas, access to a safety deposit box owned solely by the decedent requires the executor or administrator of the estate to present a certified copy of the death certificate and proof of identity to the bank. Texas law also allows a probate judge to order the opening of the box if there is a will or trust inside.
Home safes can be more challenging to open, especially if the combination is unknown. Family members or trusted associates may know the combination, but if not, hiring a locksmith may be necessary.
When searching a decedent’s home, be sure to check common storage places such as filing cabinets, desk drawers, and home offices, where trust documents or clues about their location may be found.
Legal Rights to Obtain a Copy of the Trust
In Texas, the law grants beneficiaries certain rights to obtain copies of the trust.
Beneficiaries are entitled to full disclosure from the trustee, including receiving a copy of the trust. However, Texas law provides beneficiaries with more proactive rights, as they may be entitled to see the trust documents even before the settlor’s death in some circumstances.
If a trustee refuses to share the trust, beneficiaries can file a legal claim to enforce their rights. Working with an attorney experienced in trust litigation is often necessary in these situations.
What to Do If the Trust Document Is Lost
If you suspect that a trust exists but cannot find it, there are still several steps you can take to locate it. Begin by gathering any documents related to the decedent’s estate planning, such as wills, correspondence with attorneys, or financial statements that reference the trust. These documents may provide clues about who drafted the trust and where it might be stored.
If you believe someone is intentionally hiding the trust, or if you’ve exhausted all efforts to locate it, contacting an attorney may be your best option. Attorneys with experience in trust litigation can issue subpoenas to compel individuals or institutions to release information and help you navigate the legal complexities of finding a missing trust.
Uncover Your Trusts With Sharpe Law Group
Finding out whether a trust exists and locating the document can be a complex process, but it is a crucial step in ensuring that the decedent’s wishes are carried out. If you are a beneficiary or believe you may be entitled to inherit under a trust, persistence is key.
By contacting trustees, estate planning professionals, and family members, and knowing your legal rights, you can increase your chances of successfully locating the trust. If all else fails, seeking legal assistance from professionals like Sharpe Law Group. Our team of Dallas estate planning attorneys can help you explore additional options and ensure that your rights are protected.
Contact us today to learn more about your rights and our services.
