If a deceased person has a living Trust and they named 3 people as the successor, which one makes the decision on what to do with the property in the trust?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If a deceased person has a living Trust and they named 3 people as the successor, which one makes the decision on what to do with the property in the trust?
And what happens if you don’t know where the other successor’s are or where they moved?
Asked on November 6, 2014 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. Generally speaking, the Trust document itself should state if the Trustees are permitted to make decisions alone or if they must make them together. Also, it sounds like they might be listed in order of who is to be appointed. If you are all named to work together and you can not locate the other two then you may need to ask the court to allow you to wrk alone after a due diligence investigation to locate the other two has been made. Please seek legal help here You could be held liable as a fiduciary if you act improperly. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.