Oconto, WI asked in Estate Planning and Banking for Wisconsin

Q: What do I do with a Living Trust that I am named in, forwarded to me from a family member in 2023. My Uncle passed away

In 2012. I had no idea he named me in his Trust!

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1 Lawyer Answer
James L. Arrasmith
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  • Estate Planning Lawyer
  • Sacramento, CA

A: If you have been named in your late Uncle's Living Trust, which was forwarded to you by a family member in 2023, there are several steps you should take:

1. Read the Trust document carefully to understand your role and the assets you are entitled to receive.

2. Contact the Trustee (the person managing the Trust) to inform them that you are aware of your inclusion in the Trust and to discuss the next steps.

3. Provide the Trustee with a copy of your Uncle's death certificate if they don't already have one.

4. If you are named as a beneficiary, the Trustee should provide you with information about the assets you are to receive and the timeline for distribution.

5. If you are named as a Successor Trustee, you may need to assume responsibility for managing the Trust assets and distributing them according to the terms of the Trust.

6. Consult with an estate planning attorney or tax professional to understand any legal or tax implications of your inheritance and to ensure that you follow the proper procedures for receiving and managing the assets.

7. Keep all documentation related to the Trust and your inheritance for your records and future reference.

It's important to act promptly and communicate clearly with the Trustee and any other relevant parties to ensure that your Uncle's wishes are carried out as intended and that you receive the assets to which you are entitled.

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