Living beliefs protect the property of a person or family. A living trust also explains the wishes of the individual if he becomes unable. The living trust is a private agreement that is not made public.
How to Find a Record of a Living Faith
Consider your motives. The only reason an individual should investigate someone else’s financial records is when he or she dies or loses mental or physical capacity, and only if you are a close friend or family member. Being curious about someone’s financial condition is not a good reason to invade their privacy.
Check with the hospital. If an individual enters the care hospital while conscious and qualified, he will be asked to name emergency contacts and prescribe a person who makes health care decisions for him if he becomes unable. If he had a living trust, he would often put it on file with the hospital.
Take a look at the financial records of individuals who are incapable of working or have passed away. If you are lucky, you will find his trust papers. If you don’t find the trust papers, there may be other clues. In live trusts, most bank accounts and individual portfolios will be part of the trust. The statements will have “The Smith Family Trust” or something like that. Tax returns and property documents must also be in the name of the trust.
Find the phone number of the lawyer and/or financial planner. Contact them and let them know your situation. In addition, if you happen to live in a smaller community, you can call all the lawyers and financial planners in your area and notify them of the inability of your friends or relatives to work. If they represent the person, they will act accordingly.
Accept that your relatives or friends may not have faith. If you have followed the previous steps and have not found anything, your relatives most likely do not, or do not have a living belief. The point of a living trust is to protect yourself and your property. If a person has struggled and is expensive to create a living belief, then that is unlikely to be hidden. A trustee is always in a trust and that person may be someone close to that individual or a trusted attorney or financial planner. If you do not find traces of trust and no one close to that individual knows about trust, it may not exist. If an individual already has an attorney making a will, that will is usually filed with the local county secretary and will become a public record when the individual dies.
Build your own trust and let people close to you know about it to prevent problems if you become unable.