A person who has a revocable living trust may inadvertently lose the original trust document. He or she will typically continue to hold title to assets in the name of the trust. The person can still furnish copies from his or her copy of the trust if and when a bank, broker, insurance company or title company asks for a copy.
If that person asks whether there will ever be any negative consequences to not having the original, there is no clear answer. It is possible that a title company or a bank or a broker will some day ask to inspect the original, but it is also possible that this will not occur. If the person who has lost the original of his or her trust wants to guarantee that there will be no future problems, he or she could ask his or her attorney to prepare a new trust and to assist the person in re-titling the assets from the name of the old trust to the name of the new trust.
If the person asks whether this new project is absolutely necessary, the answer is no. But the answer is no because it is not clear whether or not a future problem will occur because the original trust document has been lost. The real question is whether or not the person feels it is worth it to pay to create a new trust in this situation. Each person needs to decide that for himself or for herself.