Legal Question in Wills and Trusts in California
If my late Aunt made a bank executor of her will who would handle distrubuting the contents of the will?
2 Answers from Attorneys
The bank will probably have a trust officer employed by the bank perform the duties of the executor. The bank will petition the court to open Probate and will go through the normal duties of an executor which will take no less than seven months (if no problems are encountered). At the end of the process, the bank will submit an accounting and a request for distribution to the court and the court will issue an order instructing the bank to make distribution of the assets. The bank will be paid the statutory fees for acting as the executor that will be paid out of the assets in the estate.
The bank as Executor handles the role of an Executor so would be responsible, as well set out above.