How is a Trust executed?
UPDATED: Apr 6, 2011
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How is a Trust executed?
I hold a Power of Attorney for my father who is 82 years old and suffers from dementia. I have copy of a Trust that was set up in 1997. I contacted the bank and they informed me that the Trust was never executed and they have no accounts in my father’s name. How would I set up a new one?
Asked on April 6, 2011 under Estate Planning, Alaska
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If your father suffers from dementia, is he only suffering from it time to time or has he been declared incompetent? If he is still competent (of sound mind), he can go to the bank, along with the trust documents, and ask the bank account be renamed and rerouted to the trust. It will be usually his name as trustee for whatever name the trust is. If you are the power of attorney and he is completely incompetent, you need to bring him, the power of attorney, and the trust to the bank and go through the same process. Review the trust documents with a trust/estate planning attorney because there may be other assets that should and could go into the trust (other accounts, retirement monies, vehicles, homes, boats, personal property and the like). You may wish to also explore medical power of attorney and medical directives in addition to the general power of attorney.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.