Legal Question in Wills and Trusts in California
Trustee's responsibilites, timeline & fees
I am the lone beneficiary to a will & trust. There is no Schedule A with assets attached as indicated on the front page of the trust, nor any other pages/forms attached. The trustee said he knows nothing more. What is the next step?
It has been 60 working days since the death, how long does he have to execute the will/trust esp. if I/he doesn't know the assets?
There is no indication as to what the trustee's fee is. Can the he charge what he wants?
2 Answers from Attorneys
Re: Trustee's responsibilites, timeline & fees
The trustee needs to locate the assets. He could do a title search on all real property. If it's titled in the name of the trust, then a schedule A is not needed. No he cannot charge whatever he pleases. If you'd more detailed information, call my office.
Re: Trustee's responsibilites, timeline & fees
Oral testimentary intent can be enough depending on the items to be transferred into the trust.
Often people will not have the schedule A or it will be incomplete, this is not a factor that invalidates the trust or the settlor's intent to place items into the trust.
The trust will tell if the trustee can charge, if not, it is for the COurt to decide what is reasonable.
If you would like additional assistance, please feel fre to contact our office at the email address provided by LawGuru or through our firm's website at PasadenaEstatePlanning.com.
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