How long do you have to object to a trust in California?

How long do you have to object to a trust in California?

That the recipient has a deadline of 120 days after receiving the notice, or 60 days after a copy of the trust is mailed or served upon the recipient, whichever is later, to start a legal action to object to the trust. For more information, see California Probate Code Section 16061.7.

Who is responsible for preparing a trust accounting in California?

PREPARE TRUST ACCOUNTING Trustees have a legal duty to prepare a trust accounting, according to the format prescribed by the California Probate Code. 9. PREPARE DISTRIBUTION PLAN

How do I notify the assessor of a trust property in California?

Notice to Assessor’s Office: If the trust property includes real estate or a manufactured (e.g. mobile) home that is subject to property taxation in California, the trustee must give written notice to the Assessor’s Office of the county where such property is located within 150 days of the settlor’s death.

How long does it take to contest a trust?

Once the notice has been mailed, any party wishing to contest the trust must do so within 120 days of receiving their notice. It is also typically advisable to notice creditors. This way a creditor claim period can begin. Any claims against the trust which are submitted after the creditor claim period do not have to be paid.

What is reasonable compensation for a California trustee?

Most Trust documents do not specify an amount for Trustee compensation. And even the California Probate Code states that Trustee compensation must be “reasonable” ( see Section 15681 ), but what is reasonable? First, let’s consider situations where a Trustee is not entitled to compensation at all because that may be the easier question.

What are the different types of Trustees in California?

There are professional Trustees who are licensed by the state of California, but do not work for a larger company. And then there are corporate Trustees, these are banks and corporate Trust companies that act as Trustees. We will refer to these three groups of Trustees as private Trustees, professional Trustees, and corporate Trustees.

What is a breach of trust in a California probate case?

Under the California Probate Code section 16420 (a) (7), the court can reduce or deny compensation of the Trustee if the Trustee commits a breach of Trust. If the Trustee causes a loss of $10,000, and the Trustee is requesting Trustee’s fees of $10,000, the court can deny that fee request to make up for the harm caused to the Trust.