Okay, so you spent thousands of dollars hiring an attorney to create a multi-page estate planning treatise that you have never read and may have never signed. So let’s get to why your current estate plan or living trust is invalid:
- Problem:
You don’t know where your executed estate planning documents are located: Did you know the main reason that estate plans are not followed by the kids? Because the kids can’t find the estate plan.
Sounds a bit odd but statistically 34% of all estate plans cannot be located by the heirs when the parents (testators) die. Why? Because mom and dad invariably place the estate planning “book” in a box or a location in the garage or attic that the kids will never find.
Then what happens when mom and dad die? The kids have to hire a probate attorney to file a petition in probate and go the through the probate process in order to claim what is legally theirs from mom and dad’s estate.
Solution:
Create your estate planning documents online using TrustlockUSA! Why? TrustlockUSA allows you to create your entire estate plan in minutes and retain a digital copy of your estate planning documents in your private “dashboard”. The TrustlockUSA dashboard is a repository of your executed estate planning documents that you and your heirs can access via username and password from any smart phone or computer.
- Problem:
Your Living Trust is not funded: Most living trusts have never been funded: Did you know that if your living trust is not funded with assets it is invalid? Yes, it order for your trust to be valid it has to have the following elements: (1) testator (your) intent to create a trust: (2) Trustees; (3) Beneficiaries; and (4) Assets.
The failure to have any of these four elements will most likely cause your probate avoiding estate plan to resemble something similar to a Will which will have to be probated.
Solution:
Create your estate plan with TrustlockUSA. With TrustlockUSA you will receive monthly monitoring systems and email notifications to ensure that you complete the funding of your trust. These monthly notifications will also provide you with ongoing education material about trust and tax planning so that you know you are updated about these matters.
- Problem:
Your estate plan has not been updated. Did you know that you should update your estate plan—specifically your living trust—every two years? If not, your trust may not be legally valid or may contain invalid provisions. In addition, your trust should be updated every two years to reflect changes in your assets, children, medical condition or other matters affecting your estate plan.
Solution:
Create your estate plan with TrustlockUSA. With TrustlockUSA you will receive monthly monitoring systems and email notifications to ensure that your trust is legal valid and up to date. These monthly notifications will also provide you with ongoing education material about trust and tax planning so that you know you are updated about these matters.