Legal Question in Wills and Trusts in California
trust terminates?
My Mom passed away one year ago and her trust says...upon death of the settlor this trust terminates and its estate is to be divided equally among her children. What does terminate mean? Is there a time limit on dividing assets? Does the home automatically become tenants in common? The trust does not say to sell and two out of five dont want to sell right now, are all of our signatures required to sell?
4 Answers from Attorneys
Re: trust terminates?
When a trust terminates, it is the responsbility of the successor trustee to take over and follow the instructions in the trust. If the property is already in the trust name, then he sells or transfers the property as required in the trust by use of a Trustee's deed. If the property is in your mother's name, it is not in the trust and will have to be probated.
Re: trust terminates?
When a trust terminates, it is the responsbility of the successor trustee to take over and follow the instructions in the trust. If the property is already in the trust name, then he sells or transfers the property as required in the trust by use of a Trustee's deed. If the property is in your mother's name, it is not in the trust and will have to be probated.
Re: trust terminates?
When a trust terminates, it is the responsbility of the successor trustee to take over and follow the instructions in the trust. If the property is already in the trust name, then he sells or transfers the property as required in the trust by use of a Trustee's deed. If the property is in your mother's name, it is not in the trust and will have to be probated.
Re: trust terminates?
When a trust terminates, it is the responsbility of the successor trustee to take over and follow the instructions in the trust. If the property is already in the trust name, then he sells or transfers the property as required in the trust by use of a Trustee's deed. If the property is in your mother's name, it is not in the trust and will have to be probated.
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