What Happens if a California Living Trust Gets Lost?

9:40 am Uncategorized

That was just the question posed by the Los Angeles Times this past March when a California resident’s living trust could not be found. An elderly man suffering from senility in his early 80s never informed his wife or any of his children as to the whereabouts of his living trust.

The definitive answer given by the Time’s “Dear Liz” was that clearly if there are any signs of senility, especially in the aftermath of a stroke (as was the case here), the signatory of any such revocable trust could not sign a new one. Dear Liz advises the family in the predicament to seek the help of an experienced California trust lawyer to find out exactly what to do next.

Unfortunately, California living trusts are not kept as a matter of public record, nor are they recorded anywhere  else but perhaps with the family attorney, but sadly, in this particular case, the family does not think there was a California estate planning attorney involved.

While the lesson is tragically already lost for the family in this story, we hope it will not be lost on you. Please, create a will, have it professionally prepared, let loved ones know where it is, and make at least one duplicate copy kept in a safe deposit box or safe (that someone knows the combination to!) The same rule applies to any revocable or irrevocable trusts, powers of attorney, and any other California estate planning documents. And last but not least, make sure your partner and/or children know how to contact your attorney.

Contact us today for individualized planning strategies to meet your unique needs.

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.