Trusts can be complicated, and most individuals will need the skilled assistance of a lawyer and financial planner to help them create their trust, name beneficiaries, and finalize the trust legally. You may be wondering if trusts are public record, as this would allow you to look up a trust and see the terms, plus determine if you are a beneficiary.
Our article tells you more about trusts and whether or not you can view trust documents as part of the public record.
What Is a Trust?
A trust is a type of fiduciary arrangement that holds assets until the rules or requirements of the trust are met, and then the assets held in the trust will pass to the named beneficiaries. Generally, an individual will set up a trust to protect certain assets from estate taxes, and the assets will pass to the beneficiaries named in the trust.
Trusts may be established at any time, though many individuals choose to establish their trust as part of an estate plan, and a trust may be created alongside a last will and testament.
How Do I Know If I Have a Trust?
If you create a trust, then you will have a trust. Most of the time, you will need to work alongside an estate planning lawyer or a lawyer who specializes in trusts and fiduciary arrangements. Your lawyer will help you understand how to arrange your assets and name your beneficiaries so that your trust is established according to your wishes, and that any assets that are given to beneficiaries occur along the timeline you establish. For example, you may put assets in a trust that are to be given to your beneficiaries when they reach a certain age.
If you are named in a trust, the lawyer of the person creating the trust will typically provide you with the details of the trust and a copy of the document. Beneficiaries of a trust will also receive details about when they can expect to receive the assets of a trust.
Are Trusts Public Record?
While other estate documents commonly become public record, such as a last will and testament, a trust is not public record. This is because a trust is an arrangement that is meant to help someone pass their assets to another person while avoiding certain types of estate taxes; these documents are private to protect the security of a person giving the assets and the person receiving them.
Is It Possible to Request Documents For a Trust?
It is technically possible to request documents for a trust, but you are only likely to receive these documents if you are the creator of a trust, their designated next of kin, or the beneficiary of a trust. Along with the lawyer in charge of the trust, these are the only individuals permitted to see the documents of a trust, unless the owner of the trust chooses to share the details with other people.
How Can I Find Public Estate Documents?
Certain types of estate documents do become public in most states, with the most common document being last will and testaments. In order to find and view these documents, you will need to go to the county records office or the county clerk’s office in the area where the executor of an estate or will filed the documents.
Speak to staff members about the documents you are trying to find, and they should be able to help you gather a copy of the public estate document you need. If you are not located near the county where the documents were originally filed, you may be able to use online court records systems and pay a small fee for the document you wish to view.
Discovering Trust Information
Trust information is private, and a trust does not usually enter the public record. This is to protect the privacy of the trust creator and the beneficiaries, in addition to keeping the assets of an individual private. If you wish to find trust information, you will need to be directly involved in the trust either as the creator or beneficiary.
That being said, other types of estate and financial arrangement documents may be public record in your area, and you can find these with a quick public records search or visit to your county’s records office.
