What should I do if there are very little assets left in the California trust that I am administering?
At times during a trust administration in San Diego, the assets of the trust may dwindle to the point where there is very little left. Trust administration also involves certain costs, which means that continuing to administer the trust may not make financial sense.
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What is a Living Trust?
The answer to this question depends on several factors. In some cases, when a decedent had a living trust that owned all of his assets, it may be possible to conduct a trust administration that does not involve the probate court. In other cases, some assets may require a probate administration.
What is probate in San Diego?
Probate is the legal administrative process through which property from the estate of the deceased is transferred from the name of the deceased into the name of the inheritor. It is a court ordered transfer of property.
Creditors Claim: How to invoke the procedure to limit and eventually stop creditors from filing new claims
For a California trustee, the process of invoking the creditors claim procedure in trust administration works as follows: A notice to creditors on the decedent’s behalf is published to a local newspaper.
If the attorney who drafted the will or trust named themselves as the executor or trustee, am I required to use that Attorneys Services?
You are not required to use drafting attorney services as executor or trustee, and you may not be required to use their services at all.