A Data List for Successor Trustees

What if you have a living trust but you become seriously disabled or die and you have been living alone? How will your successor trustee know what to do, who to contact, and how to locate and access your trust documents, accounts and other assets?
You should consider supplying your successor trustee with a list, including the following necessary data:
• Contact information: names, addresses, phone numbers and e-mail addresses of your caregiver(s), housekeeper, beneficiaries and heirs, attorney, CPA, family doctor, bank(s), financial planner/securities broker, A favorite handyman, plumber or other repair personnel, Trusted neighbors and friends who might help, other successor trustees, insurance agents, anyone else your successor trustee may have to contact sooner or later.
Conversely, anyone who the successor trustee should avoid contacting, giving access to your property or allowing to “help”.
• The location of your estate planning documents (originals and copies).
• The location of keys to your house, office and vehicles.
• Name and contact information of whomever should take immediate custody of your pets.
• A short, concise balance sheet.
• The year, make, color, model and license number of each of your vehicles. Where will such vehicles usually be found?
• The location of your safe deposit box, banks, securities and other assets.
• Information regarding health and other insurance, including policies, account numbers.
• A list of monthly and other recurring bills, including account numbers, amounts, and addresses of payees. Are there HOA dues, utilities, house payments?
• Notarized letters authorizing the successor trustee to enter your residence, office and any gated community.
Once you are disabled, your successor trustee will have to act quickly, to secure/maintain your residence, protect your personal property, gain control of funds to pay for your living expenses, such as food, rent/house payments, wages of caregivers and housekeepers (who, if they are not paid, may leave!), medication and any necessary hospitalization or nursing care. If you die, your Successor Trustee will need to access funds to pay for funeral and burial expenses. (The burial typically will not take place unless someone pays the funeral expenses.)
Living trusts, wills, health care directives and powers of attorney are important documents, but they aren’t self-executing. Someone has to be able to access them and to present them (e.g. to hospitals, banks, insurers, stock brokers, mortuaries, etc). The more information and documentation your successor trustee or other personal representative has, the sooner he/she can establish his/her authority, satisfy whatever obligations must immediately be paid and otherwise protect you and your interests.
Jerry Kessler practices law in Santa Clarita. He can be reached at 661-255-1001.