Legal Question in Wills and Trusts in California
If the named Successor Trustee files an Affidavit Change of Trustee before the Surviving Settlor dies, is s/he required to notify all beneficiaries? Is it a material breach of the trust to reveal the takeover orally to all beneficiaries except one, whose address is known, but keep it secret from that one until the death of the Settlor, long after the expiration of 60 days? My question was suggested by 16061.7(a)(2).
2 Answers from Attorneys
Presumably the trust was revocable since a settlor was still living and PC 16061.7(a)(2) only applies to irrevocable trusts.
The duty to notify does not occur until the trust becomes irrevocable, which may not occur until the trustor dies. Once that occurs, if a beneficiary is not notified of the change, to whom are they to know to send an objection to? Until they are notified, the time for they to object does not start to run. Why not tell that one person? They will have to be told at some date and the trustee who intentionally fails to notice someone has breached their duties and could lose some of the compensation they are entitled to and be removed as trustee.
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