Legal Question in Wills and Trusts in California

If there are three people named in a trust and I am the only one who is not an executor (the other two are named as co-executors of the trust) do I have any rights to the proceeds of the business?


Asked on 1/26/11, 12:26 pm

2 Answers from Attorneys

Michele Cusack Pollak & Cusack

It depends what you mean by "named in the trust" You have to look at the terms of the trust- are you a beneficiary? of a specific pecuniary distribution? or of a share of the residue of the estate? Does the trust say anything about the business? If you don't know, you get the trust instrument it reviewed by a lawyer.

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Answered on 1/27/11, 2:13 pm
Jonathan Reich De Castro, West, Chodorow, Glickfeld & Nass, Inc.

Your rights to the proceeds of the business are dependent on your status as a beneficiary, not on whether you are a co-executor or co-trustee.

IMPORTANT NOTICE: The above response is not intended to, and does not, create an attorney-client, fiduciary or other confidential relationship with the responder. Neither does it constitute the providing of legal advice or services or the giving of a legal opinion by the responder. Such a relationship can only be created, and legal advice and/or legal services provided, pursuant to a written agreement with the responder. Accordingly, no obligations of any kind are assumed with respect to any matter or question presented. It should also be noted that legal issues are often time sensitive and legal rights may be lost or compromised if you do not act in a timely fashion.

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Answered on 2/01/11, 1:36 pm


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