Legal Question in Wills and Trusts in California
What happens when a trustee/trust is sued, but the trust was subsequently closed before the suit was settled? The trust happened to be the exemption trust from a Living Trust.
2 Answers from Attorneys
Not sure I have enough facts to provide a real answer. Depending on the nature of the claims, the trustee may be personally liable or funds distributed by the trust can be returned to the trust, but you should really meet with an attorney to g over th specific documents so you can get a real answer to your situation. Please feel free to contact me for a free consultation.
I agree with Mr. Feldman. Some of the issues an attorney would want to know is whether creditors were given notice, prior to distribution, whether a claim was made and denied, and when distributions were made.