Legal Question in Wills and Trusts in California

As executor, I am waiting on a Heggstad petition hearing to re-title bank account assets into a trust so they may be divided equally among the trust beneficiaries. One of the banks just found a Transfer on Death form on file. This form provides the exact outcome as re-titling the account into the trust and then distributing it equally to the trust beneficiaries (TOD beneficiaries are the same as the trust beneficiaries). Do I need to amend the Heggstad petition to take this bank account out of the proceedings? Or can I just distribute the account without changing the petition paperwork? I still need the other accounts to be re-titled so the petition is still required. Hearing is 3 months away. Thanks!


Asked on 5/10/19, 12:54 pm

1 Answer from Attorneys
Michele Cusack Pollak & Cusack

The petition just asks the court to to confirm the listed accounts as trust assets, so I don't see any reason why you need to amend it. If the bank can distribute the funds to the same beneficiaries before the hearing date, it's no harm no foul, so long as the other funds you will receive if the petition is successful are sufficient to cover decedent's debts and the costs of administration. However, if you are administering the trust without legal counsel and have filed the petition in pro per, I recommend that you do retain a qualified estate attorney to make sure you are following all the correct procedures as Trustee (referring to yourself executor rather than trustee is a common layperson misconception, and it may just be a slip but could also indicate lack of knowledge regarding trust and estate law.)

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Answered on 5/10/19, 3:48 pm


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