Is trust formatting state specific?

[frcecom]

I'm looking to generate a very simplistic revocable trust [paid-for vehicle and modest home (including tangible property)]. After viewing a number of examples there seems to be a basic format covering all the necessities. My question is -- Do states or counties require a specific form-for-use to make it legal? I see some sites selling form-fillable trust documents and offering them as specific as per county. State in question is Maryland.

Regards

 

[adjusterjack]

You would be wise to use one that's at least state specific for Maryland. The ones that drill down to county level are probably identical except for the name of the county where the county is mentioned.

I suggest you read up on Maryland's Trust Code. There is nothing simple about simple revocable trusts:

https://law.justia.com/codes/maryland/2017/estates-and-trusts/title-14.5.-maryland-trust-act./

 

[Taxing Matters]

I'm looking to generate a very simplistic revocable trust [paid-for vehicle and modest home (including tangible property)]. After viewing a number of examples there seems to be a basic format covering all the necessities. My question is -- Do states or counties require a specific form-for-use to make it legal? I see some sites selling form-fillable trust documents and offering them as specific as per county. State in question is Maryland.

Regards

Trust law is state law, so there are indeed differences between states as to what may be required. Using forms off the internet risks several problems. First, if you are not familiar with trusts and trust law, you will have no way to really tell if the form you are looking at is drafted well or not. Second, most such forms are very basic and do not take into account specific needs you may have (and may not know you need to include). Third, of course, most of them are not state specific and may not include things your state would require. I'd suggest instead going to an estate planning lawyer for the trust. If a trust is truly the best thing for you (and it might not be, there are other ways to deal with the kinds of assets you have that may be better for you) you will want it done right. Sure, getting it from a lawyer will cost you more, but you'll get one customized to your needs and that meets the requirements of your state's law.

 

[frcecom]

Much appreciate the replies!

I fully appreciate the encouragement to seek professional preparation. It's the advice often given for many endeavors.

I'm sure my calling this a "simple" trust is relative so I'll elaborate slightly. This trust is for my widowed mother that I am at an absolute standstill with regard to getting her to agree to embark on a trust being drawn up professionally (very averse to the idea of effort and cost). Just getting her to a notary agent will be a feat in itself.

What I'm working with is her home, vehicle and tangible property in and around the home -- All in the state of MD. She only has savings and checking accounts which have already been designated POD. There are four adult children (+45y) non of which have any preconceived sense of ownership of the properties and are 100% satisfied to know the estate and accounts will be dispersed by 1/4. She's not wishing to direct any of her assets outside of the afore mentioned children. This I figured would be straight forward enough to direct in the trust. The only other concern I could see requiring entering into the trust would be an incapacity directive. From research and the many examples I've seen of this it didn't seem overly complicated. I know I skipped over a few things such as successor trustees, pour-over will and etc but those items to my thinking are basic and expected inclusion items.

It feels at this point I have three options -- One would be to stick with just the current will and enter probate along with it's associated inconveniences and cost or, two, make a valiant effort to generate a revocable trust. As to the "other" options Taxing Matters eluded to -- A third option I see (and assume very viable) would be to fill out a TOD deed for the home (multiple beneficiaries) and re-title the vehicle with a TOD beneficiary.

Again, I'm not dismissing the sound advice I have been offered. Given my options I was just hoping to find a solution (to a stubborn matriarch) generated by myself to make it a little easier on the widely dispersed siblings upon the unavoidable.

Regards

 

[TrustUser]

i am gonna disagree some, with the previous answers. unless you live in louisiana, trusts are quite similar in the various other states. and most on-line trusts should be fine for your needs.

you are simply wanting to create a device that gives away all assets at the time of death, without the process of probate. i refer to that trust as a glorified will !!

most any basic trust will do this.

it is when the trust lives on as an ongoing entity after the death of the grantor, when the language of the trust is much more compelling.

i always make the last page of my trust with both my signature of the trust, and all the notarial wording. now the notary wording is apt to be different for each state. and it needs to be exact, or the notary wont notarize it.

it may be legal for the notary to attach a notary page to the trust document. i have seen attachments to many other documents. but i would never consider any sort of attachment. i like everything to be an actual part of the document.

i would also advise you to number the trust pages, if you choose to use a program that does not do so.

page 1 of 10, page 2 of 10, ....., page 10 of 10

i actually sign, initial, and date every single page. although in your situation, i realize you might need to have one that does not involve the grantor to any more degree than is necessary

 

[Taxing Matters]

trusts are quite similar in the various other states. and most on-line trusts should be fine for your needs.

I disagree. While there is a fair degree of commonality in trusts, like much else that derived from English common law, each state does have its own law and they do differ. And those differences can be important. Moreover, I have to say that a good number of online trusts that I've seen are not very well drafted. Maybe one you'd find online would get the job done, at least for the most part. But unless you understand trusts and your state's law, you won't really know if that online trust form you are looking at is good or a piece of crap. You don't want to be one of those clients that I see who walk in with one of those crap trust documents that they used and are now asking me to fix the problems they created.

 

[TrustUser]

the trust doesnt do much, but distribute the assets. what particular law or rule are you suggesting is gonna make a difference ? i have seen a lot of on-line trusts. if i was only using it as a glorified will, it would work just fine.

 

[frcecom]

Again, I much appreciate all replies and opinions.

After contacting the Maryland Law Library I was offered some insight along with links to a number of supporting documents. Both verbally from the law librarian and what I was able to glean from MD state documentation it looks like the most important aspect would be, as TrustUser stated, formatting of the notary verbiage. Unfortunately they do not offer a minimum requirements sample document but that doesn't surprise me for a number of reasons.

Also found out that TOD is not an option for the home as Maryland doesn't recognize it for real estate deeds. They legislated this in 2015 but failed to pass any statute. Really is a shame because the ability to use it would provide opportunity to also use Maryland's simplified small estate probate procedure for willing miscellaneous personal property, would have been well under the max value limit.

Considering what I've learned it's looking like I'll self-generate a narrow scope Revocable Trust, as eluded to earlier in this thread. Since I'd be placing no complex directives in the trust I'm thinking it's not likely I'd be creating negative impact. Worst I can envision would be the trust could be invalidated (in part or in whole) and we'd have to resort to probate where an uncontested 1/4 division should pose no problem, just time and expense (likely the same it would have cost for professional trust generation). As insurance, prior to notarizing, I could have an appropriate attorney give it a once-over (for a nominal fee).

My take on this is much along the lines of TrustUser's post. I'm not attempting to shelter for tax purposes or generate a trust that lives on. Aside from the incapacity directive the only purpose of the trust is simple transfer of a home and its contents in equal parts. I also find it endlessly interesting to research subjects in effort toward completing a task myself (barring negative impact on others). I'm sure I might generate a question or two during the process.

Regards