1st home liquidating trust
California Probate Code Section 16061.7 states that such notice must be sent within 60 days of the death of a settlor and allows the recipient of the notice to request a copy of the trust.
But if no notice is mailed, the statute of limitations in which a trust contest could be filed is much greater, and could be up to at least four years.As part of the initial trust administration process, your attorney will also ask you to provide him or her with the decedent’s original will so it may be lodged with the court.California law requires that a decedent’s will be lodged with the court for safekeeping, even if no probate is going to be opened.In those cases where the trust holds real property, a number of steps must be followed to vest title in the successor trustee so that the property can be managed, sold, or distributed as part of the trust administration.Trust administration is a necessary process that occurs after the death of either one or both settlors.To protect the successor trustees, there are many things that must be done to ensure proper administration.
Fortunately, working with an attorney for trust administration is a straightforward process that will give the successor trustees a great peace of mind throughout the administration.
Trust administration begins with a required probate code notice to all trust beneficiaries and heirs of the settlors.
Beware: Many successor trustees who handle trust administration without the advice of an attorney often skip this very important step.
Requirements The notice required under California Probate Code Section 16061.7 has several requirements, each one of which must be met in order for the notice to be effective.
These requirements include the following: There’s much more to the notice requirement than meets the eye at first glance.
If you are concerned or want to ensure that the administration of the trust is properly handled, please consult with an attorney for legal advice concerning your situation.