Do Lawyers Keep Copies of Trust?
If they prepared the document, it’s very likely they’re gonna keep a copy of that.
One of the great benefits of a Trust is privacy.
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Hopefully this has been a help to you. I hope to see you soon. Yeah, baby!
Hi! My name’s Lou Brown. I’ve been using trusts since 1984. And one of the questions people ask me is, do lawyers keep copies of trusts? Well, if they prepared the document, it’s very likely, they’re going to keep a copy of that. And one of the other questions is, if I’m having a closing and my property is in trust, is the lawyer going to require a copy of my trust? Well they might require a copy, but you do not have to give them the copy. In other words, you can take the trust to them and say, here you go. Here’s how you can verify. Number one, that there is a trust. Number two, who the trustee is and what the powers of the trustee are. Number three, that the trustee has the power to sell the property. And number four, that the transfer of the assets is going to go according to the terms of that agreement.
In other words, to the new buyer, through the proper instructions that are contained in the trust. Does the lawyer have to keep a copy of that? No, they don’t. They can put, simply a statement in their file that says I have reviewed the trust and the trust is intact. And that’s it. Do they have to keep a copy? They do not have to keep a copy of that. That is your personal information. Understand this. If somebody subpoenas that file, they could have a copy of that. If some new clerk or new worker at the attorney’s office, inadvertently gives a copy, makes a copy, emails a copy, faxes a copy, whatever might happen. That’s out there. If you never gave them a copy in the first place, guess what? It’s not available for somebody to share with someone else out of your purview. So one of the great benefits of trust is a thing called Privacy. And certainly that will keep you private. If you don’t give the attorney, a copy of the trust to keep it in their file.
Hopefully this has been of help to you. I’ve been buying, holding, and selling property for over 40 years. And I can tell you that my friend, one of my great friends, and so I’m so blessed to have learned about it. Way back in 1984, I started using these great powerful things called trusts. Now I’ve got a little book. You can download that for free it’s MaximumAssetShield.com/book You can download that for free. You can also learn more on my maximum asset shield website on our upcoming event. And also my home study course on trusts. Hopefully this has been of help to you. My name is Lou Brown. I hope to see you soon. Yeah, baby!