Legal Question in Wills and Trusts in California
Trusts
My father died and I am the executor of his estate. Everthing is in trust. What do I need to do in order to sell assets?
2 Answers from Attorneys
Re: Trusts
I hate to say this directly, but you need to contact an attorney somewhat urgently (preferably in the county in which your Father passed away). A huge misconception that most people have is that because a trust avoids probate it does not need to be administered. This is really not true. A trust commonly drastically reduces the cost of administering the estate, but does not avoid it completely. However you hire will have to do a lot of things such as: 1)lodge any will with the court and file a couple of other documents, including a copy of the death certificate; 2) go over the assets see how they need to be distributed; 3) get the day to death values on all of your father's property; 4) direct you in paying any estate taxes that needs to be handled; 5) contact various State and Federal agencies of your Father's death; 6) set up any remainder trusts that might be called for in the trust instrument; 7) Gather all of the assets that are supposed to be in the trust; 8)assist you in properly notifying the trust beneficiaries and interested parties; 9) handle relations with any outstanding creditors; 10) a number of other things.
To get to the point, you need to contact an attorney who handles Trust Administration and you need to do it soon. As Trustee you have a lot of duties and responsibilities, one of these duties include hiring appropriate counsel in assisting you with this. I would start by contacting whatever attorney set this trust up for your father in the first place.
To get to the point, you need to contact an attorney who handles Trust Administration and you need to do it soon. As Trustee you have a lot of duties and responsibilities, one of these duties include hiring appropriate counsel in assisting you with this. I would start by contacting whatever attorney set this trust up for your father in the first place.
Re: Trusts
You need help. Do you meant that you're are the Trustee? What do the assests consist of? Who drafted the "trust?" Call me directly 1.619.222.3504.
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Trusts Does a trust mean no probate is needed at time of death? Asked 5/06/07, 11:37 am in United States California Probate, Trusts, Wills & Estates