QUESTION
What are the legal requirements associated with a trust?
Asked on Mar 15th, 2013 on Estate Planning - California
More details to this question:
My mother passed away leaving a Trust and an associated Will. She assigned me as the Executor and I have two brothers who are to inherit 33% each of her estate. She has a house valued $185,000, minus the remaining mortgage. In California, do I need any court documentation to proceed with the sale of the house (i.e. letter of testamentary, etc.)?
8 ANSWERS
Business Transactions Attorney serving Glendale, CA
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Richard E. Blasco, Inc.
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You need to hire an attorney because you are dealing with real property as the major asset of the estate. Based upon the assumption that title to your mother's home is in her name as trustee, the legal fees and costs to move to the successor trustee or trustees, and deal with the sale of the house, and any other minor issues, should be less than $5,000.
Answered on Mar 17th, 2013 at 8:04 PM
Estate Planning Attorney serving Torrance, CA
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The Law Office of Kelvin Green
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You probably need to get the terms and relationships correct The Trust is managed by a Trustee, the estate is managed by a Personal Representative or Administrator. My guess she had a trust with a our over will that covers anything that was not in the trust The answer to your question depends on how the property was titled at her death. If it was in the trust, then the successor trustee has the right to transfer it and dispose of it. If it is not titled in the Trust then the will will need to be probated. My guess is the will makes the Trust the beneficiary so the house through probate is transferred to the Trust and then sold by the trust for the benefit of the beneficiaries. I recommend you get an attorney to work this through so you get it right
Answered on Mar 17th, 2013 at 8:03 PM
Edwin K. Niles
Normally, you will not need court documents, nor will you have to go to court. However, you will need to prepare and record certain documents in order to be able to pass clear title. You must also, under California law, file the will with the appropriate court (assuming that there is a will as part of the estate planning documents). You should talk to a lawyer who is experienced in this field.
Answered on Mar 17th, 2013 at 6:17 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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If title to the house is in the trust, and you are the TRUSTEE of the trust, no. But be sure you're fulfilling all your responsibilities as trustee. If title was merely in your mother's name, then yes, you presumably will need letters testamentary.
Answered on Mar 17th, 2013 at 6:13 PM
It depends upon the terms of the trust. You should consult a probate attorney to review the documents and advise you.
Answered on Mar 17th, 2013 at 6:01 PM
Family Law Attorney serving Villa Park, CA
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The Law Office of John J. Stanton
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You will need to file an Affidavit-Death of Trustee with the County Recorder. That form will the allow the Successor Trustee (you) sell the property.
Answered on Mar 15th, 2013 at 3:14 PM
2 Awards
Not if she had a trust but an attorney can help you with the administration to transfer the house or the sale proceeds.
Answered on Mar 15th, 2013 at 2:45 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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There are some associated administration with a trust. You should obtain the assistance of a probate/trust admin attorney to carry out the trust provisions. First, things first. The will must be filed with the court within 30days of death in the county of the decedent's death, if that was the county of his primary residence. Second, there is a notice you need to give all beneficiaries, among other duties that need to be carried out with an accountant re a final tax returns individually for the deceased as well as the trust; in addition a tax EIN number will need to be obtained for the trustee from the IRS. These are some of the duties that will need to be completed. Again you are advised to obtain the services of a trust administration attorney to assist you.
Answered on Mar 15th, 2013 at 2:36 PM