How do I locate living trust funds?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How do I locate living trust funds?
The person who did the living trust in Texas has moved to CA and has amended the trust to a new trustee. How do we locate the trust in TX? The person that did the living trust is unable to remember where he put the trust (i.e. which bank he put the money into). The estate lawyer has no knowledge either. We have called several banks and ran a credit check but no information. It was done in 09/09.
Asked on May 4, 2011 under Estate Planning, Texas
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You really have time running out for you because if these are bank accounts, banks only keep records for a certain amount of years but even less if the accounts are dormant. The bank can then close the account and escheat the money to the state. Try to look at missingmoney.com or the Texas State Treasurer's office to see if the monies have been considered abandoned and escheated to the state for a certain of amount time. Keep checking every single bank in Texas and credit union and trust company. Check with the IRS and see if any interest has been reported to the IRS on these accounts. Not much else can be done.
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.