Components Of A Living Trust
This is a list of important documents that should be included in a living trust, and should be included in your estate planning folder alongside a living trust.
There are many components of a living trust that should be included and covered in the trust. This includes an assets list, as well as a variety of other documents. While not all of these are actual components of a living trust, they should be included right along side the living trust, therefore they are just as important.
Below is a checklist that you can go through with your attorney to make sure that he will provide these documents. This includes components of a living trust, as well as additional documents that might be necessary. Even though every attorney will have his own method and his own thoughts as to what the most important components of a living trust are, the below list includes important documents that everyone should include in their estate planning folder.
â€¢ Revocable living trust
â€¢ Trust Amendments
â€¢ Certificate (Declaration) of revocable living trust
â€¢ Community Property Agreement
â€¢ Last Will and Testament (Pour-Over Will)
â€¢ Financial Durable Power of Attorney
â€¢ Health Care Durable Power of Attorney
â€¢ Directive to Physicians (Living Will)
â€¢ Funding Instructions to transfer assets into your trust:
This includes all of the following:
â€¢ Jointly-Owned Property
â€¢ Personal Property
â€¢ Jointly-Owned Assets
â€¢ Separate Property of Husband and/or Wife
â€¢ Assets with Named Beneficiaries
If you include all of the above components with your living trust, as well as any additional documents that your attorney recommends, your estate will be properly planned. This also makes it possible for that plan to be properly executed.