Legal Question in Wills and Trusts in California

Successor has not posted bond

Court accepted my resignation as trustee and ordered successor trustee appointed and to post $500,000.00 bond. The bond has not been posted and the successor trustee's attorney wants me to turn over trust property without posting the bond. I don't think I should do so because bond has not been posted. Any insights, citations, law, case law, etc. would be greatly appreciated!


Asked on 5/31/06, 3:50 pm

1 Answer from Attorneys
Michael Olden Law Offices of Michael A. Olden

Re: Successor has not posted bond

you are correct -- until the person has placed a bond required by the court he/she has not fufilled the reqirments and therefore is not the trustee yet so he/she cannot take poession of the assets until this prerequesite has been met -- good thinking on your part

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Answered on 5/31/06, 5:31 pm


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