Trust Instructions - Signatures
Signing the Documents
The witness signatures are not necessary if you have a Notary, but 3 witnesses give it extra assurance, and many people cannot get to a Notary easily.
So... we suggest all witnesses sign right away. The witnesses (in most jurisdictions) can be anyone over 12 years of age. It's better if they are at least 18. Then, get a Notary as soon as possible. You do not have to show any of them the beneficiary pages.
TRANSFERS TO THE TRUST
Real Estate Deeds
We prepare the Deed to the trust and all necessary support documents that allow the Deed to be recorded. The trust is not activated until the Deed is completed. The Deed then needs to be recorded.
Ownership of Other Assets
We prepare all transfer documents. A simple process to sign them and assemble them into your trust folder for your records. Most of the transfers do not get sent anywhere, but are retained in the trust folder.
The stock agent will re-title your stock into the trust name. Usually, a simple process.
Recording the Documents
Only the single page of a trust with the word "RECORDED" will get recorded with the Recorders Office. This document only discloses non-invasive information that allows you significant privacy. Recording costs about ten dollars and makes the trust an officially recognized document.
It is NOT necessary to create a bank account for each asset or trust. If you need a bank trust account, it can be set up in a trust name. Each client determines their own method of banking. The usual solution is to create a master bank trust account that receives all income outgoing funds. Like a manager of many real estate units would maintain, the transactions are all defined as to the unit. There would be an attached definition of each income or expense. This is a common practice and is called "Checkbook Accounting".
Creating individual reports is then done from the master list of transactions. One popular computer program is called Quicken, but there are many others. Ask your tax preparer to suggest a program, but be sure to mark every deposit and payment with the item it is associated with. The accounting can then be completed on time.
Copies of Records
Deeds get recorded with the County Recorder. Stock gets recorded with the Stock Transfer Agent. We record all completed documents with TrustRegistry.net for the additional safety of the trustees and beneficiaries.
Privacy in our computer world is becoming difficult. The people of the modern world have already created many public records, starting with birth, marriage, drivers' license, purchase records, subscriptions, warranties, cars, boats, airplanes, credit, banking, and real estate.
It is possible to create a new branch of privacy for any individual thing, such as an asset, that is totally separate from your individual person. It can consist of an investment, a vehicle, bank account, real estate, or whatever. The laws have no effect on eliminating this new privacy, provided that you are not involved in criminal activities. This is exactly the same as the privacy of one corporation (such as Target Stores) private from another corporation (such as Office Depot). In our example the private information of each is private. The public information of each does NOT disclose the names or home addresses or relatives or financial information of the managers or of the stockholders. In fact, the burden of disclosure that those public companies are governed by does not affect individual privacy, just makes them disclose formal reports of public information. On a small level, a trust provides privacy of the individuals involved. It also provides protection, just like stockholders are protected from lawsuits against the corporation.
The recorded documents only report the information on that document; usually:
The information the Protector has, or that TrustRegistry.net archives, is NOT available to anyone except the registered parties.
- The legal description of the property transferred,
- Who transferred it,
- That a trust received it, and
- The mailing address.
Disclosure requires permission of the trust creator with their encrypted CODE. The only exception to privacy would be (after proof of) serious crimes like drugs or violence, whereby co-operation and disclosure would be provided.