Legal Question in Wills and Trusts in California
An elder requested the bank accept a Trust, which named him as a Trustee, to gain access to his deceased father's bank account; the Trust listed the bank account as one of the assets to be placed into the Trust, Schedule of Trust. The bank denied his request. They told him the Trust did not have a Certification of Trust filed with the County Recorder's Office. What can he do?
3 Answers from Attorneys
Record a Certification of Trust. If you do not know what that is, you should contact a local estate planning attorney for assistance.
You probably should meet with an attorney who can review the documents in greater detail. The elder may need the attorney to record an Affidavit of Death of Trustee, which may be what the bank was really suggesting. Again, it would really require an attorney reviewing the documentation to advise you with any concrete advice. I would be happy to meet with you to review the matter and provide free initial consultations.
By implication, the bank account was never retitled in the name of the trust, which is why the bank won't transfer it to the successor trustee. There are three options:
1. If the estate (assets outside the trust, with no joint tenants or beneficiaries) is less than $150,000 in value, the successor trustee can do a Small Estate Affidavit under Probate Code section 13101.
2. If the estate is worth more than $150,000, then you may have to file for probate; or
3. As an alternative to probate, the trustee can petition the court for an order under Probate Code section 17200.1 declaring that the account is trust property, because it's listed on the Schedule of Trust Assets.
My recommendation is that your friend see a trusts and estates attorney.
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