In California, the typical trust administration takes between 12 to 18 months to complete. The process can take significantly less time, ranging between 4 to 5 months, when distribution terms are straightforward. Oppositely, the distribution time frame can also take longer than 18 months depending on factors, like outstanding debts or real estate sales, which…
Continue reading ›A trust set up for property gives beneficiaries a right to the property once the settlor has passed away. This means beneficiaries may become co-owners. However, the trustee may also hold an interest in the property as well. If the trustee is a co-owner of the property, they can file a partition suit. This is…
Continue reading ›The purpose of this article is to explain what a trustee removal petition is. In a trust the trust is managed by the trustee, who is put in charge by the creator of the trust called the settlor. A trustee removal petition is made by a settlor, co-trustee, or beneficiary of the trust with the…
Continue reading ›A trust is a legal device that is commonly used in estate planning. A trust represents “a collection of assets and liabilities” that can be held and transferred by an individual to another individual, the “beneficiary.” (Portico Mgmt. Grp., LLC v. Harrison (2011) 202 Cal.App.4th 464, 473.) When the trustee, the person responsible for managing…
Continue reading ›A declaration of non-monetary status is a special type of court filing reserved for trustees under a deed of trust. These trustees have limited powers, but are often named as defendants in lawsuits by plaintiffs seeking to ensure proper joinder. Of course, being named in a complaint carries with it several responsibilities, chief among these…
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