SOTs dealing with trust paperwork


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Posted (edited)

Ive only done a few transfers to a trust but is it always a pita?  I had a young single guy want everything to go to the trust even though there were no beneficiaries except his 70+ yo parents. He was convinced it had to go on the trust due to the internet.

Another guy had a trust but with multiple amendments adding/taking away himself as a trustee and other positions. A bunch of other stuff he did because he read about it online and had never talked to a lawyer and didn't know what he was doing. Im pretty sure he had excluded himself from using the items.

Another had added his entire extended family as trustees, instead of beneficiaries and was pissed when I told him about all the RPQs to be done.

Lastly a guy wanted to send in the trust but not the added trustees, as he didn't want the to do the RPQs.

Why do people use these damn things without knowing what they do???

ETA Im not bitching about the trust paperwork per say, its dealing with the people that want to use them without knowing what they actually do.

Edited by taylorwso
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I always explain to them that individual might be easier. Trusts were when there was an requirement to get approval from the CLEO which was more of a pain than a trust. 

Well that's what I tell them if I want to get them off of trust path. 

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