What is a Certification of Trust?
If you have a Trust and have either put assets into it or are attempting to put assets into it, then you may have been told you need a certification of Trust, a/k/a certificate of Trust. For instance, it is common for a home loan lender to require a certificate of Trust if a person is buying real estate and wants to put the property into Trust. Likewise, if you are attempting to sell property that is in Trust a title company and the buyer’s lender will want a certification of Trust to verify that the Trustee has authority to sell the property.
At its most basic level a certificate of Trust is essentially an affidavit executed by the Trustee of the Trust that certifies that the Trust is valid and that the Trustee has power to make the transfer under the Trust Agreement. The certificate of Trust will recite all relevant facts related to the Trust.
How to Create a Certification of Trust
Since a certification of Trust requires the Trustee to attest to certain legal questions related to the Trust, it is advisable to have an attorney review the Trust and draft the certification of Trust. Sometimes a lender or financial institution will have a preferred form certificate of Trust. Such a form should not be signed blindly, as it may be inaccurate and not truly represent the nature of the Trust. Liability can arise if the Trustee is wrong and misidentifies certain key aspects of the Trust.
An experienced Wills and Trusts attorney, such as the Wills and Trusts attorneys at Johnston, Tomei, Lenczycki & Goldberg LLC will review your Trust to make sure the transfer is permitted, and will draft the certification of Trust so that it is accurate and acceptable by the financial institution.
Contact the Libertyville Wills and Trusts Attorneys at Johnston Tomei Lenczycki & Goldberg LLC Today to Get Your Certification of Trust
If you’ve been told you need a certification of Trust to complete a deal, then it is imperative that you speak with an estate planning attorney such as the estate planning attorneys at Johnston Tomei Lenczycki & Goldberg LLC. We offer a review of your current Trust and flat-fee drafting of the certification of Trust. Contact Johnston Tomei Lenczycki & Goldberg LLC today to get your certification of Trust.
Phone Number: (847) 549-0600
Fax Number: (847) 589-2263
350 N. Milwaukee Ave., Ste. 202
Libertyville, IL 60048
223 N. IL. Rt. 21, Ste. 14
Gurnee, Illinois 60031