Legal Question in Wills and Trusts in California
We are five beneficiaries and have received from the trustee the Trust Accounting for the X Trust (X=our father's name). The Trust Accounting is accompanied by a letter from the trustee's attorney stating in a "Notice to Beneficiaires": "You have 180 days from your receipt of the Account or Report to make an Objection to any item set forth in this account or report. If you do make an obection to the trustee, the three-year period provided in Section 16460 of the probate code for commencement of litigation will apply."
We have read Section 16460. To us, it seems to imply that the three-year period always applies upon "receiving an account or statement." Is this not the case? We see no mention under the probate law of any 180-day period that can precede the apparently automatic three-year period.
I thank you, in advance, LawGuru, for your response.
1 Answer from Attorneys
The 180 day period might apply if it so provides in the trust document.