Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.
- ☐ Don’t create a trust without understanding its purpose.
- ☐ Identify the trust type.
- ☐ Understand who controls it.
- ☐ Understand who benefits.
- ☐ Understand revocable vs. irrevocable structure.
- ☐ Understand trustee duties.
- ☐ Ask about successor trustees.
- ☐ Determine which assets belong in the trust.
- ☐ Don’t assume signing the document funds the trust.
- ☐ Review real-estate transfers.
- ☐ Review account titling.
- ☐ Review beneficiary designations.
- ☐ Understand tax consequences.
- ☐ Understand administration costs.
- ☐ Ask about trustee compensation.
- ☐ Ask about annual compliance.
- ☐ Understand amendment rules.
- ☐ Understand distribution rules.
- ☐ Identify potential conflicts.
- ☐ Ask how the trust interacts with the will.
- ☐ Ask how it interacts with business interests.
- ☐ Obtain funding instructions.
- ☐ Store documents securely.
- ☐ Review after major life changes.
- ☐ Confirm that the trust actually accomplishes its stated purpose.
Premium Checklist
Purpose → Structure → Trustee → Beneficiaries → Assets → Funding → Tax → Administration → Review
Critical Funding Audit
☐ Bank accounts reviewed.
☐ Brokerage accounts reviewed.
☐ Real estate reviewed.
☐ Business interests reviewed.
☐ Insurance/beneficiary designations reviewed.
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