Legal Question in Wills and Trusts in California
I am the trustee for my parents estate
My sisters (2 of them) and I are the only 3 benificiaries.
I had diner with them and asked if they wanted to but our parents house, both said no - sell it and split the proceeds 3 ways.
Do I need a Notice of proposed action? or does the meeting meet the requirements before I can sell the house?
3 Answers from Attorneys
If you are operating as a trustee of a trust, rather than as an executor of an estate, you most likely have the authority to make that decision without any formal notice. It couldn't hurt to get your sisters' agreement in writing, tho, to prevent any future disputes.
In addition to what Ms. Cusack stated, I always recommend a notice of proposed action becuase you have nothing memorializing that dinner conversation. I have seen too many verbal agreements go sideways when the beneficiaries get upset and the trustee is held liable.
As the other attorneys have said, you should draft, file, and serve a Notice of Proposed Action if the estate is being Probate. Even if you are the successor trustee, and would not need to use the Notice of Proposed Action, I would recommend that you send your siblings a letter memorializing your dinner conversation. That way everyone will have the same understanding of your conversation concerning the house.
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