A trust is a private document!!

@thereellawyer1

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Why it worked

The video addresses a common concern about estate planning (trusts) by explaining their private nature and contrasting them with more public legal structures like LLCs. This provides valuable, actionable information in a clear and concise manner, making it highly shareable.

Summary

The speaker explains that a trust is a private document and does not require public filing like an LLC, thus avoiding annual fees. While trusts don't need annual filings, amendments may incur costs. Most states require a notary, and some require witnesses for a trust to be valid.

Structure

1Trusts are private documents, unlike public filings.
2No annual filing requirement for trusts.
3Amendments may incur costs.
4Notary and witness requirements vary by state.
5Copies are distributed to the creator, client, and successor trustee.
6No-contest clauses can disqualify beneficiaries.

Original caption

PSA: A trust is a private document. If a bank, title company, or financial institution asks to see it, you are NOT required to give them the full trust. What you should provide is the Certificate of Trust—a shortened version that proves the trust exists without revealing all the personal details. Your trust includes sensitive information—like who inherits your assets, under what conditions, and how everything is managed. That’s not info everyone needs to see. It’s meant for your eyes only. #assetprotection #businessattorney #estateplanning #livingtrust #assetprotectionattorney #rockefeller #dynastytrust

More from @thereellawyer1

Product placement

The speaker discusses trusts and their legal implications, implying that their 'Secure Your Legacy Mastermind' course provides guidance on this topic.

On-screen text

A TRUST IS A PRIVATE DOCUMENT!!

Transcript

A trust is a private document!! Um what makes it impossibly? Do you need to get a notary and does it have to be filled with like a specific court? It's a good question. Good question. Okay. So a trust is a private document. that's why people like it is because it doesn't have to be filed anywhere. not with the Secretary of State, not with the Registry of Deeds. It's a private document. Therefore, it doesn't have annual files. you know like an LLC, you got to pay your annual filing where they're going to dissolve you. A trust typically doesn't have ongoing maintenance cost meaning that you don't have to pay every year to keep live or incompliance, but maybe when things change, let's say you have another child or you got another asset, you might have to pay to amend the trust to add those additional changes. Absolutely almost every state requires notary at at minimum. Um and some states require witnesses. So one or two witnesses depending on the state. Once you sign it, I'm going to scan it into my system. I'm going to keep a copy of it. You're going to keep a copy of it and then if you have trustees like a successful trustee, they should have a copy of it. as many wet signature copies as possible. I mean in my trust, I have a no contest calls. So anybody is trying to if my try one of them like, oh, what's wrong on it? No, contest, you're going to disqualify yourself from inheritance.