The Complete Guide to Planning Your Estate In California: A Step-By-Step Plan to Protect Your Assets, Limit Your Taxes, and Ensure Your Wishes Are Fulfilled for North Carolina Residents by Linda C. Ashar

Author:Linda C. Ashar
Language: eng
Format: epub
Tags: estate, will, trust, assets, estate planning, disability, costs, taxes, legal costs, North Carolina, living will, power of attorney, executors, trustees, insurance
Publisher: Atlantic Publishing Group
Published: 2013-03-14T00:00:00+00:00

Abstract of Trust

Suppose you do not want everyone to know what your trust will include until after your death. An abstract of trust can be used to accomplish this. This tool allows you to say that your trust exists and that it is going to be used, but it simply is a “short list” of what is included in that trust, rather than spelling it all out.

You may want to do this if a financial institution wants to have documentation that a trust exists, but you do not want to provide them with any details, which legally you do not have to do. Therefore, an abstract of trust is formed. In some states, this document is a specific form that must be completed, whereas in other states, it is not. When you work with your estate planning attorney, you will be better able to make sure that the right forms and documentation are provided to draw up this type of trust.

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