Legal Question in Wills and Trusts in California
If a couple creates a trust, naming each other as successor trustee should the other pass away first, does the surviving spouse as successor trustee to the trust have obligations and/or duites to be performed on behalf of the deceased spouses estate? What are his duties to the beneficiaries of the trust?
1 Answer from Attorneys
It depends on the document. If a portion of the trust becomes irrevocable on the first spouse's death, the trust assets must be inventoried and divided and statutory trustee notices sent to the remainder beneficiaries. Sometimes there are distributions to be made on the first death as well. If the entire trust remains revokable, the first death administration is relatively simple The surviving spouse should consult an attorney to review the estate planning documents.
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