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My sister had a trust and I am the successor trustee and also the executor of her will. Her credit union refuses to give me the beneficiary information because the account was not in the name of the trust but the account is listed in the trust as part of the trust. What are my legal rights?
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Taxation Attorney serving Santa Monica, CA
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If the total value of your sister's property that was not held in the trust or in joint tenancy is under $150,000, there is an affidavit procedure to collect the account. The form of the affidavit is found in Probate Code Section 13101. Most financial institutions can provide the necessary form. If her estaste is worth more than that, you may be able to do a "Heggstad Petition." Failing that, you will need to file for probate administration.
Answered on Dec 08th, 2014 at 12:16 PM