Legal Question in Wills and Trusts in Washington
My father set up a living trust before he passed and I am 1 of 8 beneficiaries of a home held in the living trust. How will the distribution work? Does the home have to be sold in a specified time period? Do the funds have to be distributed in a certain period of time?
1 Answer from Attorneys
It all depends on the terms of the trust agreement and if that is not specific, it depends on the purposes of the trust and the trustee's interpretation of how to implement those purposes. A "living trust" is one that is established while the donor ("trustor" in legalese) is alive. BTW, once the trustor is no longer alive, it is just a trust. You would probably best be advised to ask for a copy of the trust agreement and then see what other information you may need to answer your questions that reading the trust agreement .
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