Legal Question in Wills and Trusts in California
Living trust
I am the Beneficiary of my Parents trust. Is there a Time frame in which all property [ real estate] should be sold and the trust closed ?
2 Answers from Attorneys
Re: Living trust
Yes. It would be determined by the Trust document. Make a demand to the Trustee to obtain a copy of the trust.
Re: Living trust
As soon as reasonably practicable. The trust isonly supposed to continue after the death of the trustor, in this case your parents, for the length of time to administer the estate. This may or may not be a quick process. I've seen ones that continue for years and some that end within a year.
Please feel free to contact me off this public forum, at our office, to discuss the details of your situation privately. I can be reached at the address, phone and email here on lawGuru, or through our firm's informative website located at No-Probate.com.
Scott