Legal Question in Wills and Trusts in California

My brother and I are co-trustees and beneficiaries of our father's living trust. He has now passed away.

The trust provides for distribution of the assets after 60 days. In the meantime we can administer them as we see fit. I have two basic questions:

1. Can we use the assets as we see fit before the 60 days, including giving it to ourselves?

2. I understand that my inheritance will not be community property, as long as I maintain the funds in my own account. However, if as co-trustee I move money to my personal bank account before the 60 days, is that still non-community property, or do I need to wait for the distribution after 60 days?

Thanks


Asked on 9/20/09, 9:40 am

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Administration of assets is not synonymous with distribution. Administration means to maximize income and/or do what's best for the estate. Distribution means to disburse trust assets to beneficiaries, thereby depleting the estate.

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Answered on 9/20/09, 4:24 pm


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