Trustee is deceased

[TrustUser]

your biggest job is to find someone who knows enough about trusts, that the correct language is placed in the trust so the trustee can safely and effectively manage the trust for the beneficiaries. i dont think this site allows any referrals, not that i have any.

 

[SamuelBall]

First of all you need to understand that this instrument that you "deposited for safe keeping" with the register in Baltimore County, Maryland (pursuant to Section 4-201 of the MD Code) is of no legal consequence or significance until your death and it is admitted to probate as your last will and testament.

In the meantime the document can be withdrawn by the maker or by someone authorized by the maker and revoked by substitution or intentionally destroyed; or it can be amended by a codicil that can likewise be "deposited" with the register.

However, a codicil to the will (other than a holographic) must adhere to the same formalities as that required for the will itself, meaning: - (if not holographic) "(1) In writing, (2) signed by the testator, or by some other person for him, in his presence and by his express direction, and (3) attested and signed by two or more credible witnesses in the presence of the testator."

Thank you! Based on this, I assume that a notary is not required.

 

[Litigator22]

Thank you! Based on this, I assume that a notary is not required.

Correct. Neither the maker's signature nor that of the two attesting witnesses need be subscribed before a notary public.

In fact the jurat (notary's form of acknowledgement) is only required with regard to wills that are made self-proving in states where such a will may be created. But I find no provisions under Maryland law for a self-proving will.

Also, I think that you need to rethink the need to create a testamentary trust! I strongly urge that you do so. With no minor children to provide for why complicate the process and add to the legal costs in having a testamentary trustee appointed to distribute your estate, which you anticipate to be "negligible", when it can be done directly through the will? Makes no sense to me.

Also the presence of the testamentary trust could interfere with your heirs ability to seek administration of the estate in accordance with Subtitle 6 of Title 5 of the Maryland Code entitled: "Small Estates", or a "Modified Administration" under Subtitle 7. I don't know that it would necessarily preclude those options, but why risk it? Why burden the estate with trustee's fees, trustee's legal expenses, etc., etc., when it isn't necessary?

Once again with no minor children to provide for I think you were poorly advised/motivated in this trust business and ought to retract the will from the register, revoke it, and start afresh sans the trust.

Good luck

 

[SamuelBall]

Thank you Litigator22! I have learned a lot in here. The will was created 10 years ago, when two of my children were minor. The trust clause will have no bearing in another four years, when all my children turn 30. Unless, both me and my spouse leave this world in the ensuing four years, it is all good. Life is unpredictable, but, a simple codicil will take care of all this.

 

[Litigator22]

Curiously, what have you "learned in here" that will be reflected in a "simple codicil"?

 

[SamuelBall]

I learned that I need a codicil - that was the critical piece of information. I learned that I do not need to have it notarized. The changes were so minor that I could make a draft of a codicil on my own. Other than that, I learned that creating Trusts is a matter of opinion and that one-size does not fit all. This is a great resource when combined with other sources. Thank you all!

 

[HRZ]

Trusts are not free to administer and somebody needs to provide prudent investment skills...and annual tax returns are a pain if thats not your cup of tea ...so a trust for small sums awaiting smarter wiser kids at 30 may not be a value effective tool ....unless there are special needs or creditors in woodpile ...

 

[TrustUser]

this trust is FREE TO ADMINISTER. the op is alive, so he would be making a revocable grantor trust, with language in it for his kids. there is ABSOLUTELY NOTHING that he needs to do differently, once the assets are titled to the trust.

the annual tax returns to which you refer are done once the trust becomes irrevocable.

this whole situation came up when the op was thinking about his will creating a trust. and i simply pointed out that he should create the trust now, with all the correct language needed in it, to effectively manage the trust for his kids, for whatever length of time he thought was necessary.

if his will creates a trust, i would bet dollars to donuts that the will wont come anywhere close to placing all the language in it that it should have, in order to effectively manage the trust.