How do I locate living trust funds?

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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 10 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.


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