Legal Question in Wills and Trusts in Washington
Maximum timeline for execution/distribution of trust
My mother died Decdember 19th, 2000. She has a trust set up for her property and it is being administered by a large bank. Myself and my 4 siblings are the beneficiaries. Question: Is there a maximum amount of time they have with which to ''settle'' the trust? It's been over 9 months now, and somewhere along the line I thought I had heard that they had no more than 9 months to do so. What happened (or happens) if it takes longer? Do the beneficiaries have any recourse? Or do we just have to wait until they get it done. In the meantime, the stocks that are in the trust have lost close to $100,000 of their value.
Thanks you for your time.
1 Answer from Attorneys
Re: Maximum timeline for execution/distribution of trust
They are required to act "prudently." What is prudent depends on a number of different circumstances. Nine months is not an extraordinarily long time for you to have wait for distributions. If you feel they are delaying or not acting prudently, then I would need to know exactly why you think that to give you an informed opinion.