Legal Question in Wills and Trusts in California
How ''in control'' is the executor? When is the trust made known?
My grandfather died, and I know that he and my previously deceased grandmother named me as one of the beneficiaries. The aunt that is the executor is threatening to hold everyone's money unless they prove where it went and account for it all. HOw much control does the executor have in controlling the money? Is the trust read like a will? How do I know what it specifically states in relation to me? How soon after the death is it released?
2 Answers from Attorneys
Re: How ''in control'' is the executor? When is the trust made known?
Many of your questions maybe found in the trust itself. As a named beneficiary you have a right to review and inspect the trust documents. The settlor of the trust can put restrictions on how the funds or property are to be distributed and the settlor may give the executor alot of power and discretion. I suggest you get a copy of the trust and review with an attorney.
Re: How ''in control'' is the executor? When is the trust made known?
Once a trust becomes irrevocable, as this one most likely has, the trustee must notify the beneficiaries and potential heirs within 60 days of the trust becoming irrevocable (here, 60 days after your grandfather's death) and give them the opportunity to ask for a copy of the trust. If you don't receive this notice in that period, you should request a copy of the trust from the trustee. The trustee also has a duty to inform you, upon your request, regarding the trust administration and trust finances (as they relate to you and your gift under the trust).
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