Legal Question in Wills and Trusts in California

Re: Liable for amount owed on father's credit card?

As successor trustee you are obliged to settle debts of your father's estate, but ONLY from his assets.

You also need to send out notice to the trust beneficiaries and intestate heirs.

As trustees, you can deed the real estate to the beneficiaries and have it recorded. Check with the county tax assessor's office to see if the beneficiaries qualify for a property tax reassessment exclusion.

The above is by no means a complete list of the trustee's duties. I recommend that all successor trustees consult with an attorney to make sure they have done or will do all the things necessary in handling the trust. The attorney can make a list of what to do, and you can then choose whether you or the attorney will complete the tasks. It's important, because a trustee is liable for all errors and omissions in handling the trust.

Re: Am i liable for the amount owed on a credit card?

The credit card bills are payable from the trust funds to the extent that your father's probate estate was insufficient to pay them. I suggest that you provide notice to creditors, etc. under the provisions of Probate Code Section 19000 and following. If the trust pays outright to you and your brother, then you record a deed from the trust to each of you in order to transfer the property. Note that Proposition 58 provides a way to avoid reassessment of California real property for purposes of property tax (you file a form with the deed). (This statement does not constitute my representation of you, nor is it an attorney-client communication.)