Trusts
A trust as a first-class part of the plan: its type, its people, its documents, and the assets allocated to it.
Estate → Trusts records the trusts that hold, or will hold, parts of the collection. A trust is an entity in the plan: assets can be allocated to it, people hold roles in it, and its governing documents are kept with it.
A trust's record
- Type — Revocable living, Irrevocable, Testamentary, Charitable.
- Name, established date, status and notes.
- People and roles — Grantor / settlor, Trustee, Co-trustee, Successor trustee, Beneficiary, Trust protector, Advisor, Attorney. Each person is one of your heirs, so a trustee designated here counts toward the readiness score's Heirs component.
- Documents — Trust agreement, Amendment, Certification of trust, Schedule of assets, Assignment, Trustee acceptance. The agreement and amendments are the governing documents; they count toward Documentation.
- Assets — everything allocated to the trust in the plan, with its total.
How trusts and the plan fit
Allocation in the plan can target a person or a trust. Allocate to the trust and the trust's page shows what it will hold; the trustees see it once their access opens. A transfer already made — assets that legally sit in the trust today — is recorded the same way, with the disposition set to Transfer and the trust as destination.
Designated and verified
As with heirs, a trustee is designated when you add them and verified once they have accepted. The Trusts tab shows which trusts have a verified trustee and which are still waiting — a trust with no verified trustee is a gap the readiness list will name.
Storehouses records trusts; it does not create them. The trust agreement is your attorney's work. Keep the executed copy here so the people who will need it can find it.