At David W. Foley`s law firm, our fees for living trusts are low because we are efficient with your time. If you can`t find your original documents, it`s best to find a new lawyer and review your estate plan. They may provide a trust notice indicating that the new conditions of trust replace or replace the previous conditions. In other cases, the original document is lost when the dealer moves or closes their locker. Sometimes the original document is destroyed accidentally or even intentionally. Or the grantor can`t find the living trust because he doesn`t remember where it was stored! No will, no trust, no estate division plan. No appointment of the representative of the estate. The state intervenes and the rules of intestacy apply.

For many, this is not the preferred outcome. The last common problem we will tackle is the confusion over open classes of trust beneficiaries. How will it be determined when a class will be closed and what will happen to the proxy`s power over the property if there is an open class of beneficiaries? 2. If there is a trust deed, but the trust agreement is missing, the parties must prove, by clear and convincing evidence, the existence and content of the trust agreement So secret that when the clients began to die, no one could find the trusts. Without the fiduciary documents, there was no way to know the beneficiaries, descendants or terms of distribution. The courts therefore had to interpret an appeal. This is exactly what happened in the Gause case, which was decided in 2016. It was a 105-hectare piece of land, named after a trust founded in 1945 by Leonard Lucian Gause, Jr. So what can you do if you don`t have a copy of the trust agreement? Here are some suggestions: If you are a dealer or agent, you should consider filing a brief from the trust in the documents, sharing the document with the beneficiaries or a trusted advisor, or putting it in a locker and communicating it to the beneficiary. The Illinois Trust and Trustee Act, 760 ILCS 5/ff.

answers the question of how to properly manage and maintain a trust when there is still an open class of beneficiaries. In accordance with point 760 ILCS 5/16.1, the main beneficiaries of a trust may practically represent the potential beneficiaries. In the absence of a conflict of interest, because the primary beneficiaries have “substantially the same interest in the matter or dispute” of a trust, they may represent and legally bind any minor, disabled, unborn person or any “person whose identity or location is unknown and indeterminable.” This allows beneficiaries who are alive, adult and mentally capable to act without having to worry about future beneficiaries who may or may never exist. Ask the previous accountant. Tax advisors should have copies of the deceased`s trust agreements/wills in their permanent files. If you still can`t find the trust agreement, you may need to ask the court to be formally appointed as your personal representative, which would require the assistance of a competent trust or estate lawyer. One thing to remember is that trust agreements are not public records. So you can`t just go to the local estate court and get a copy of a fiduciary agreement.

The licensor wished to retain the private trust, which made it difficult to find an untimely fiduciary agreement. The lesson to remember if you are a non-professional trustee is that you need to keep a copy of the fiduciary agreement in a safe place.