How Long Can a Trust Remain Open After Death

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How Long can a Trust Remain Open After Death

How Long Can a Trust Remain Open After Death

When a Trustor dies, i.e., Grantor, Settlor, Trustmaker, there is time allotted for the Successor Trustee to get all funeral arrangements, death certificates, and so forth in the order. The time range is not fixed on how long a trust can remain open after death, but can range within 3 months to 18 months typically. After finalizing any arrangements the decedent had proposed in the Trust, then all accounts and assets are accounted for to mitigate any breach of fiduciary duties.  

How Long Can a Trust Remain Open After Death

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How Long Can a Trust Remain Open After Death

When a Trustor dies, i.e., Grantor, Settlor, Trustmaker, there is time allotted for the Successor Trustee to get all funeral arrangements, death certificates, and so forth in the order. The time range is not fixed but can range within 30 days, for example. After finalizing any arrangements the decedent had proposed in the Trust, then all accounts and assets are accounted for to mitigate any breach of fiduciary duties.  

So, to get a complete-time overview, you can break down the time into various time segments, and each section can vary in time due to their complications. One complication can be the sale of a home or many homes and a company, for example. Attaining appraisals, adding the property to the MLS’s, etc., take time, which includes finding an approved buyer, etc.

How Long Does It Take to Settle a Trust After Death

Within the total time, which can typically be from 12 months to 18 months, there are deadlines that the Trustee, as well as the beneficiaries, need to be aware of, as consequences can arise based on missing due dates. Here are just a few deadlines to consider if you are a Trustee and Beneficiary:

  1. Prepare an inventory of the estate, which includes all assets as well as liabilities
  2. Get a Trust Identification Number
  3. Send out a notice to all beneficiaries and potential heirs—probate code Section 16061.7. 
  4. The beneficiary has a right to receive a copy of the Trust.
  5. Once Beneficiaries receive Notice, they have a period to challenge the Trust. (Challenge a Trust within 120 days of Notice)

Just at this point, which doesn’t include paying any prior taxes, debts, selling of property if applicable is at 120 days from Notice or 60 days, you receive a copy of the Trust. A Trustee would not look to release any distributions before 120 days as a beneficiary can contest (challenge) the terms of the Trust.

Living Trust Distribution Time Limit

 A Living Trust (Revocable Trust) is not distributed until the Trustor dies, then a Successor Trustee takes over the estate per the Settlor’s wishes and completes the distribution process. With that said, distributions must be made within a “reasonable” time. Transparency is key to mitigation conflicts between Trustees and Beneficiaries. To continue, Trustees can, and should, make preliminary distributions to the beneficiaries before the final distribution but retain X amount in reserves.

 

How Long Does It Take to Settle an Estate With a Trust

When it comes to distributions timeframes in California, there is not an exact line drawn in the sand for Trust distributions. There is not an exact timeframe mentioned in the statutes. The overwhelming theme, however, is full transparency and keeping the beneficiaries reasonably up-to-date. The objective of the Trust document is to eliminate any disputes, voiding, invalidating of the Trust. And Yes, a Beneficiary contests the Trust on the grounds of undue influence, illegal acts like forgery, etc.  

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 How Long Does It Take to Get a Settlement

 The Trustee has a reasonable period to complete the settling of the Trust. The question is, what is “reasonable”? As long as the Trustee has been effective in keeping the beneficiaries up-to-date, stating the facts taking place with the assets, etc., the court will work with the Trustee should contesting the Trust occur. But the courts will look to a few factors to ensure the Trust is closed within a reasonable timeframe based on a few factors such as:

  • All contingencies to distribution have been met.
  • All debts and taxes have been paid.
  • All Assets have been collected and in condition for distribution

The main objective for the Trustee is to make sure to distribute assets without leaving no stone unturned. If, after distribution, the Trustee finds out there is another tax or debt that was not paid, it would have to come from their pocket. Now, if an estate tax return is required, situations like that can last three years or more.  

What can I do if it’s taking too long to receive my distribution?

As a beneficiary, you will want to make sure you have complied with your timetables and keep abreast of Trustee updates. If the Trustee is not transparent about their actions, find an expert Trust Litigation Attorney who specializes in your situation “before” alerting the Trustee. Remember, you need to look “reasonable” to the courts and not merely be anxious to receive your distribution. In many cases, there is a provision called a “no-contest clause,” or another name is a in terrorem clause that states if you contest the Trust and you lose your case, you will receive 0.00 of your inheritance. Therefore, contact an estate planning attorney to understand what remaining steps are needed and timeframes to complete.

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How long does it take to get an inheritance?

What if the Beneficiary has been waiting for more than 18 months?

If you are the Beneficiary, hopefully, you have been in the loop of the current standings. If not, then, you will need to start by gathering information like the following:

  1. Copy of the Trust
  2. Banking information
  3. Asset updates

A good practice at this point, i.e., 18 months waiting, is to meet with an estate planning lawyer who dedicates themselves in trust litigation. You see, if in fact, you are 18 months, and have No knowledge of breach has occurred, then you are simply in a waiting game. If, however, you have seen warning signs of misappropriation of trust funds, or lack of transparency, you may need to seek counsel. Take away: Make sure you have already created a dialogue with the Trustee to show the courts you have been “reasonable” in your approach, and now it’s time for full transparency. 

Trustee Removal

Are you a Trustee or Beneficiary where protection of the Trustors wishes are being challenged and causing family disputes?

Develop strategies on preempting a Trust dispute and discover What You Need to Know About the Trustee Removal Process

Hess Verdon has a deep bench and knows both sides of the equation to remove or suspend a Trustee or to safeguard the Trustee from a frivolous legal process. Hess-Verdon top litigators will help you stay on track!

 

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Beneficiary is attacking me

Attacked by a beneficiary who objects to how you, a Trustee, or Administrator, is handling an estate?

Prevent Trustees from Making Some Common Mistakes. 

Duties | Delays | Choices | Distributions

Timing on each one is critical to avoid litigation

Hess-Verdon has over 30 years of dealing with Beneficiary and trustee disputes. Let us review your situation. You’ll be glad you did. Contact us for a No Charge, No-Obligation Consultation.

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Contesting a Trust

 Are You Considering Contesting a Trust or the most recent amendment? Was there a capacity issue or undue influence?

Be Careful when contesting a trust and know the elements it takes to protect the trust assets. Reserve your rights before Statute of limitations happen!

Hess-Verdon works hard to resolve Trust and Estate issues and preserve the estate by minimizing costly litigation. Contact us for a No Charge, No-Obligation Consultation.

 

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Hess-Verdon Team of attorneys

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Serving Trust Litigation: Throughout the state of California

Serving Counties: Orange County, CA. , Los Angeles County, Riverside, CA., San Diego, CA.

Serving Cities Nearby: Newport Beach, Huntington Beach, Irvine, Costa Mesa, Laguna Beach, Newport Coast, Corona Del Mar, Anaheim, San Juan Capistrano, San Clemente, Buena Park, Fullerton, Orange, Lake Forest, Laguna Hills, Garden Grove, Tustin, Yorba Linda, Fountain Valley, Dana Point, Rancho Santa Margarita, Ladera Ranch, Placentia, Laguna Woods, Aliso Viejo, Coto De Caza

 

Needing Trust Litigation? – What You Should Know!

Hess-Verdon – Best Trust Litigation Attorney

and what to consider when working with Hess-Verdon.

Your Orange County Trust Litigation Attorneys 

 

Can I sue the Trustee of a Trust?

If you are an heir or a Beneficiary, and you feel there has been a mishandling of the trust assets, it’s imperative to seek legal counsel.

Now, as a beneficiary, you have to be reasonable for allowing the Trustee to meet timeframes, etc.

For example: Within 60 days after taking the responsibility of the Trust, the Trustee shall give notice to the qualified beneficiaries of the acceptance and their full name and address of the Trustee. 

Within 60 days once the Trustee requires knowledge of the creation of the irrevocable Trust, whether they learned it by the death of the settlor or any other means, the Trustee shall give notice of the identity of the settlor, a right to request a copy of the trust instrument, and the right to an accounting. 

Now, if the Trustee feels they have been reasonable and have been meeting the objectives of the Trustee, you will need to go to court to prove the breach of fiduciary duty.

How to Request an accounting of an estate

If you believe the Trustee of the family trust has mismanaged funds, assets, etc., you will need to consult an estate planning attorney who focuses primarily on trust and estate litigation.  

Here are some questions that a Hess-Verdon Attorney will ask you:

Do you have a copy of the Trust? Was it received within the last six months?

Have you requested bank records, asset valuations? Is everything written and dated?

Are there any in Terrorem clauses?

When was the Trust created?

Was there theft from the estate before inventory?

Was the grantor in the right mind when creating a Trust? Was there dementia when the Trust was created?

Are you receiving updates from the Trustee?

What makes you think there is Misappropriation of Trust funds?

The above questions are just a few questions a Hess-Verdon attorney will ask. You can take advantage of the current No Obligation, Free Consultation case review. Within an hour, you will know if you have any grounds to stand on.

Now, we understand this is a trying time, especially that the grantor has just passed away and including fraudulent acts for favoring the Trustee and not the beneficiaries.

Choosing the Right Trust Estate Litigation Lawyer is Crucial

Searching for an Orange County Trust Litigation attorney?  Hess-Verdon & Associates is one of the most knowledgable and most sophisticated trusts and estate law firm in the state of California at both the trial and appellate levels.

Our legal team of Trust Attorneys in Orange County, are well versed in estate planning, trust administration, and trust litigation.

Our viewpoint is the following:  Aggressive legal representation with a team of experts that protect you, our preferred client, with current tax and estate planning strategies.

Our litigation team has spent years acquiring extensive experience in trial preparation, strategy, and trial presentation to help you with your specific case. 

We welcome the opportunity to discuss your needs, our qualifications, staffing approaches, and rate structures with a view toward the successful resolution of Estateand trust-related matters.

Learn more about our Living Trust Attorneys.

Trust Dispute Lawyers

Trusts are very complex legal instruments.  When disputes arise based on trustee administration disagreements, a trust dispute lawyer can help mitigate possible mediation, arbitration or litigation.

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What Is Trust Litigation?

Trust litigation is where a Beneficiary or Trustee or even an heir of a Trust feel their legal rights are trampled upon and need legal counsel to represent them in court. Typically the trust litigation is between the Trustee vs. the Beneficiary/heir. Many issues can arise, and mostly due to transparency, i.e., the beneficiary feels the Trustee may be self-dealing. Self-dealing is where the Trustee puts their needs and wants before the Beneficiaries. Now, the Trustee knows they have the fiduciary duty to put everyone above their self-interest first and to comply with the wishes of the Trustor. 

Now, after legal discovery, both parties will be asked to do the following:

  • Mediate
  • Arbitrate
  • Litigate

Trust litigation is by far the most costly and can drain the estate assets. If you are a Trustee and or Beneficiary, best to keep communication open at all times with proper bookkeeping.  

Why Consider hiring Hess-Verdon trust litigation attorneys

We work efficiently to help individuals, families, fiduciaries, organization with the following:

  • Trustees
  • Beneficiaries
  • Individuals and families
  • Banks
  • Trust Companies
  • Charitable entities
  • Family Offices
  • Corporate Fiduciaries
  • Corporate Trustees
  • Business Owners

Here at Hess-Verdon, we counsel clients on various aspects of estate disputes. Such as investigating potential claims, evaluating the merits of bringing a claim, filing or defending a claim, and when necessary litigating a claim through trial or settlement.

With our expert team of trust litigators, in many instances, we can settle such proceedings without going to trial after taking into account the merits of the positions advanced by the respective parties and the tax rules applicable.  

Rest assured, the Hess-Verdon team is here to help you. Unlike some other law firms, we are a full-service firm. Handling thousands of probate and trust litigation cases helps us know exactly steps are crucial for your case.

Visit us in Fashion Island in Newport Beach. If you believe you need a team of attorneys, paralegals, and a helpful, caring staff, then read on.

Schedule an appointment today. Our specialized team is ready to assist you.

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My Family is Suing me

Are you being sued by a family member over a Trust or Will?

From threats to harassment to emotional distress, many people’s knee-jerk reaction is to sue and has become increasingly common. 

There are many options to resolve a family dispute in court and out of court. 

With over 30 years, Hess-Verdon has handled Trust and Estate Lawsuits and dealing with family dynamics. Do not panic; Hess-Verdon is ready to help you today.

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Trustee Delaying my Inheritance

Past the reasonable “time period,” and Trustee has yet to make the required distributions?

Diagnose the stalling tactics from an uncooperative Trustee and UNCOVER Steps to Take to Get the Trustee to Distribute Your Inheritance.

Hess-Verdon, for over 30 years, has worked on both sides of the coin. Receive counsel on staying on the right side of the courts. Seeing thousands of problems facing Trustees and Beneficiaries has allowed us to assist and complete the wishes of the Trustor/Executor. Contact us for a No Charge, No-Obligation Consultation.

  

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Trustee Deadlines

Up against or even missed a deadline? Know which ones are upcoming?

Shore up your fiduciary responsibilities 

Conflict of Interest | Distribution of Funds | Upcoming deadlines

And put yourself back on track and avoid a trustee removal petition

Time is ticking, and seeking guidance from a Hess-Verdon Attorney is your attorney source to know protect your family’s legacy. Contact us for a No Charge, No-Obligation Consultation.

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Changed Trust Before Death

Was a Trust changed while under the care of a brother, sister, or institution and possibly been influenced?

 Act fast and attain a strategy on resolving fraud, forgery, undue influence, while protecting your rights and staying on the right side of the court.

 Hess-Verdon & Associates helps seek proper legal advice and provides you with the sound direction you need to understand what constitutes an invalid Trust or amendment. Contact us for a No Charge, No-Obligation Consultation.

 

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We are here to help!

Emotions Can Run High in Disputes Between Family Members, Especially in Matters Involving Money.

Need a Second Opinion?

Are you feeling your attorney is not answering your questions? 

Up against a deadline | Going over Budget | Case Taking too Long 

These are just a few reasons why you need a second opinion.

Hess-Verdon has a deep bench experience and works with the courts. If you have questions that your attorney is not answering, or the litigation has taken unexpected twists and turns, Hess-Verdon has handled Trust and Estate Lawsuits for over 30 years. Do not panic; Hess-Verdon is ready to help you today.

 

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stars 5 How Long Can a Trust Remain Open After Death and Options!

Truly exceptional law firm! They provided concise, decisive legal assistance during unanticipated events during estate proceedings. They made a bad situation better. Our family will always be grateful. There is no one I would rather have than Hess-Verdon & Associates representing my family.

Wade Shannon

Client Since 2014

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“Definitely a firm that will “fight to the finish.”

Frances Gruben

Client Since 2010

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“Outstanding expertise and client support”

Suzanne Casey

Client Since 2018

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“Hess-Verdon is very professional and knowledgeable on corporate law, that can help with estate planning matters.”

Roy Trachsel

Client Since 1995

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Our Trust Litigation Attorneys Fight to Protect Your Inheritance.

 

stars 5 How Long Can a Trust Remain Open After Death and Options!

Truly exceptional law firm! They provided concise, decisive legal assistance during unanticipated events during estate proceedings. They made a bad situation better. Our family will always be grateful. There is no one I would rather have than Hess-Verdon & Associates representing my family.

Wade Shannon

Client Since 2014

stars 5 How Long Can a Trust Remain Open After Death and Options!

“Definitely a firm that will “fight to the finish.”

Frances Gruben

Client Since 2010

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