Frequently Asked Questions
Is my personal information protected?
Absolutely. Your information is private and will not be sold or shared with ANYONE!
The documents take a couple days to be prepared and then mailed to your shipping address.
You are provided with Amendment Forms that allow you to amend your trust. Asset Protection can prepare the Amendments for you for an additional cost.
You file your taxes the same way you did before your trust. Normally the trust uses the husbands social security number as the tax id. Should the husband predecease, the surviving spouse would use their social security number as the tax id.
You can have as many beneficiaries as you like. The beneficiaries can be comprised of people or entities such as charities, schools, churches, etc.
You can choose to leave specific dollar amounts. If you choose to do this, these distributions come out of the trust first. Then whatever is leftover in the trust is distributed according to percentages. These percentages must total 100%.
Yes your trust is valid should you decide to move out of state. The domicile of your trust is the state you lived in at the time of creation. Should you move out of state you can amend your trust to change the domicile to the state you know live in.
Your documents should be reviewed every couple years to make sure the people you have designated are still able to manage or receive your assets. More importantly you should review your assets every year to make sure the assets are properly titled in the name of your trust.
Absolutely not! Your trust is a private agreement amongst yourself. Recording it or filing it makes it public record for the world to see.
It is not necessary for your successor trustee to have a copy. The only time your successor trustee will need a copy of everything is upon your incapacitation or demise.
The trust can be dissolved or revoked. The assets would come out and re-titled to the appropriate owner(s).
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