QUESTION

I'm trying to settle my deceased parents acct.s with steifel nicolaus and trans america

Asked on Jun 15th, 2014 on Estate Litigation - California
More details to this question:
My father tried to include all his investments into his trust but two of his accounts are demanding that I prove my authority to execute their affairs before they close their accts. I am the first trustee listed in their trust, but since my dad died first, my mother inherited his assets outside the trust somehow. She died only three days after my dad, who both entered hospice at the same time. My father had been her executor power of attorney in fact for over ten years because she was incapacitated with Alzheimer's. Somewhere in the fine print of the two contracts it allows them to pay to her estate outside of the trust. They are demanding that I prove my power over her affairs during those three ? days she lived longer than my dad. My father intended that all his investments were included in his trust. My mother was also not able to make any claim for payment due to her infirmity. I'm not sure why they're doing this. and I don't know which court I need to go to for this matter.
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1 ANSWER

I am very sorry to hear of your losses and now having that compounded by bank policy.  The banks can be quite frustrating at times. It's hard to know exactly what needs to be done but first question is if the assets were actually titled in the name of the trust in the internal bank records. I assume not. Thus the next question is value. If less than $150k, in total, then can do probate code 13100 small estate affidavits. If more than $150k that won't work and need to go to probate court. The most likely, first option to consider, is a probate code 850 "Heggstad" petition. That is where you get a court order that established the accounts are part of the trust due to intent. If that is not successful then a full probate is going to be required. Hire an experienced probate attorney. In particular find someone familiar with Heggstad petitions as that is a way you could save some time and money.  Good luck. -John
Answered on Jun 17th, 2014 at 10:03 AM

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