Legal Question in Wills and Trusts in California
Accounting for Final Distribution
Final accounting of trust estate distribution
My widowed mother died 7/06. Her estate is in CA. My sister and I are the beneficiaries of the estate. My sister is the trustee of the estate. Her husband, a CPA, is handling the accounting for the estate. Both my sister and her husband had been handling my mother�s personal and financial affairs for the 3 � years prior to her death. These are my questions:
1. Must my brother-in-law share the accounting with me prior to submitting it to the State, or can he do so without my approval?
2. Can I expect a detailed accounting with bank statements to verify his figures, and will the time frame simply begin at date-of-death, or go back to when they had control of her finances? I have reason to expect seal-dealing, so I find this to be quite important.
3. Are there Codes that I should familiarize myself with for this process?
4. What is my recourse if I do not agree with the final accounting?
5. Approximately how long does it take to hear back from the State, and is this also when we are notified of any estate tax?
6. When is the actual distribution made to the beneficiaries?
2 Answers from Attorneys
Re: Accounting for Final Distribution
First, I am sorry to hear about the recent passing of your Mom.
You have many questions. Typically when dealing with a trust, there is no court oversight.
Only the trust instrument itself specifies the manner of the accounting required. If you want to request an accounting, you have to do so in writing. There are many sections the California Probate Code that may apply here.
Also a trust may permit the successor trustee to self-deal so it may not be a contestable point. Then again it may depend on the nature of the successor trustee's action.
Please seek the advice of an attorney if you wish to object to how the successor trustee has been handling your Mom's trust.
Re: Accounting for Final Distribution
You have raised many important issues pertaining to your mother's estate.
Generally an accounting does not need to be submitted to the State. You may be referring to the federal tax return 706.
As a beneficiary you should review and approve the accounting, together with supporting documents, prior to any distribution.
We suggest that you contact an attorney to discuss all your issues and explain the various California Codes and procedures which may be applicable.
If we can be of assistance, please contact our office for a thirty minute free consultation 1.877.MOHEBAN. Ask for Susan Tenzer or Vandy Moheban.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
