Legal Question in Wills and Trusts in California
Trustees Not So Trustworthy
The house my friend has left me in his trust has tenants living in it, the rent that is being collected by the trustee or what ever he calls himself should be put where? If the house is left to me shouldnt the money collected from the rent be put in an account for me and then given to me when finally the house and the income from it are in my name? Because wont I have to pay my own property taxes on this house from his death date, or from the date it is put in my name?
7 Answers from Attorneys
Re: Trustees Not So Trustworthy
It depends. You should hire a lawyer to demand a copy of the trust agreement and to get an accounting from the trustee. Often only a good letter from the attorney is needed.
Re: Trustees Not So Trustworthy
Short answer: Probably yes.
If the trust provides that you get the house, and there are no other provisions impairing that right (for instance, maybe the trustee needs to pay administration expenses and there is no other asset to pay them), then the rents should be placed in a separate account and paid to you with the house. If the trustee isn't following the rules, and won't listen to reason, you can consider petitioning to have him or her removed. See an attorney for more details.
Re: Trustees Not So Trustworthy
If the trust gives you the property outright, then all rents of the property are or should be yours legally. This means that either the trustee does not know what they are supposed to do with the money, or they do not care.
Regardless, barring other unforeseen issues, the property is likely yours, and should be deeded to you and the rents paid directly to you. If you would like to discuss this further, please let our office know at your earliest convenience.
Re: Trustees Not So Trustworthy
If the trust gives you the property outright, then all rents of the property are or should be yours legally. This means that either the trustee does not know what they are supposed to do with the money, or they do not care.
Regardless, barring other unforeseen issues, the property is likely yours, and should be deeded to you and the rents paid directly to you. If you would like to discuss this further, please let our office know at your earliest convenience.
Re: Trustees Not So Trustworthy
If the trust gives you the property outright, then all rents of the property are or should be yours legally. This means that either the trustee does not know what they are supposed to do with the money, or they do not care.
Regardless, barring other unforeseen issues, the property is likely yours, and should be deeded to you and the rents paid directly to you. If you would like to discuss this further, please let our office know at your earliest convenience.
Re: Trustees Not So Trustworthy
If the trust gives you the property outright, then all rents of the property are or should be yours legally. This means that either the trustee does not know what they are supposed to do with the money, or they do not care.
Regardless, barring other unforeseen issues, the property is likely yours, and should be deeded to you and the rents paid directly to you. If you would like to discuss this further, please let our office know at your earliest convenience.
Re: Trustees Not So Trustworthy
Sounds like the trustee is not doing their job properly, which would be a breach of their fiduciary duty. Why was the home not transferred into your name? If it was, why is this person still collecting the rent?
In a nut-shell...sounds like you are being taken for a ride. We'd be happy to assist you. Please feel free to contact me at my office at the number and email provided by LawGuru or through our firm's website at No-Probate.com.
Warmest Regards,
Scott
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
