Legal Question in Wills and Trusts in California
My mother passed away this year 2010. The state is CA. I am the sole beneficiary. While the gross "estate" was 1MM, all assets were either in a revocable living trust, ITF or JTWROS. My question is are there required forms to be filed for the California courts in this case? Secondly, if so what are they?
2 Answers from Attorneys
If all of the assets were in a trust or otherwise held as you state, you should not need to do anything in Court.
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I concur; however, there may be other issues that should be handled by an attorney and an accountant. These would include notice to creditors, determining if any liens exist (Medi-Cal) and final tax returns. If you are the successor trustee and sole beneficiary, these tasks should be simple and straightforward, but I recommend you meet with a lawyer to discuss issues related to terminating the trust(s).