Legal Question in Wills and Trusts in California
how long can an executor take to settle an estate from a trust the assets are ablout 600 - 700 thousand total it has been1 year 7 months the executor does nothing at all yet
2 Answers from Attorneys
You are mixing two different concepts. A Trust is a legal fiction created by transferring assets into the trust under the control of a Trustee who must act as the trust documents require him to. In a Will, the Will names someone as the executor, but that person really has very little power. The Will, if the assets are greater than $100,000, must be filed with the Probate department and the Judge appoints an administrator to carry out the directives in the Will, collect all the assets, and distribute them.
In both situations, lif the person lin charge of the assets does not act reasonably, the beneficiaries can ask the court to appoint some one new to handle the assets. There is no set time limit, as some assets are harder to locate, control, and distribute than others
Depending on the type of assets involved and other factors, if there is no estate tax return to file, a Trust could be distributed in a little as six months to one year. A probate, which must go through the Court would probably take a bit longer. Every situation is different and you should consult with an attorney to be sure your rights are being respected.
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