 
WHERE ARE THE TRUST RECORDS AND TRUSTEE RECORDS?Normally...The records of a single asset are kept in the folder of that particular asset. That could grow into a box of records. If there is daily business management, or interaction with the public like a business, that asset may be better operated as a corporation or LLC. You could still protect the stock, inventory, equipment, and accounts within a trust.Records of a passive asset like an investment account, a vehicle, or a list of inventory, can be pretty small. Similarly, the records of the management by the Trustee can be pretty small and may have very little activity. Therefore, records are simple to manage, and perhaps have very little need for constant review or other activity. Keep the records close and keep copies in a second location in case of damage or loss. During Attack...Records of the trust can be transferred and safeguarded in another location very quickly. A local trustee can nominate and transfer all records to a remote (or foreign) trustee very easily. That eliminates the (former) local trustee from handling records, avoiding damage to the trust, and avoiding damage to the beneficiaries. |