Скачать или смотреть St Louis Estate Planning Attorney Tony Westbrooks Schedule A

Attorney Tony Westbrooks
Formula Law
4220 Duncan Ave., Ste. 201
St. Louis, MO 63110
(314) 798-6975
www.formulalawoffice.com

Hello my name is Tony Westbrooks and I'm a trust and Estates probate and Medicaid planning attorney here in St Louis and the owner of Formula Law located here in St Louis and I wanted to take a few minutes to discuss the schedule A that many of you have on the back of your current trust or should have on the back of your current trust and there's always a lot of confusion and a lot of questions that reoccur when I am meeting with clients either for the first time or just running into a neighbor on the street and the question is you know first of all what is the Schedule A and a Schedule A is a literally just a list of assets that are in that clients or that person's trust so think about it is you know after you've passed and you have a successor trustee who is acting in incapacity is Trustee of the trust and they want to know what assets are in the trust and where to look to transfer assets that have the trust named as the beneficiary or are currently in the trust where to look for those assets in order to you know either pass those assets on to the beneficiaries of the trust or or maintain those assets inside of the trust this Schedule is is meant to reflect the assets that are in the trust when the trust is created and to add to the Schedule in the event assets are added to the trust at a later date you know I think there's a lot of fear and rightly so around a non attorney you know needing to or thinking about amending or adding to the Schedule A because it has a very official sounding title and it is you know a page of their trust and I do recommend that Grantors, Settlors, or trust owners do contact their attorney to make changes to their schedule and understand that the schedule is a living document and is meant to be changed to reflect the assets in a trust so you know if you have a house that is transferred in the trust that that would be reflected in the Schedule A any property schedule transferred into the trust will be reflected into a Schedule A if you are a you know a real estate developer and investor and you transfer to house into your trust and that Schedule A should be changed to reflect the addition of that new piece of property into the trust so again upon your passing your success or trustee knows where to look for all the property that should be or maybe or will be an asset of that trust however there by simply putting an asset on the schedule a does not in fact make that asset an asset of the trust so if you do own a piece of property in your individual name and you you know write the address of that property on your Schedule A and sign and date your Schedule A that act in and of itself does not make that asset and asset of your trust you know there must be some additional legal documentation to transfer that piece of property into your trust and the same goes for you know any kind of business or business ownership that simply by writing you know the name of your business name LLC or my interest in blank LLC does not automatically transfer that asset into your trust there must be some additional legal research and documentation in place to to make that asset and asset of your trust in the same goes for a life insurance policy if they you know the decision had a life insurance policy and the trust was not named us have beneficiary simply putting you know name of the scene life insurance policy on the Schedule A does not act to transfer that asset into the trust.