Legal Question in Wills and Trusts in California

Firstly, our sincere apologies for a mistake on our part as concerns our question previously sent to you concerning Section 16460 under CA Probate Code. We had read the information here rather than directly from the code itself where we found the 'Notice to Beneficiaries' as written in the letter from the trustee's attorney. We do have another question and it is the following: While we had thought there would be no further disbursements, we have learned from the Trust Accounting that there is a certain amount of money retained in the X Trust and referred to as Equity. Due to the style of presentation of the Trust Accounting, accompanied by the letter from the trustee’s attorney, the question has been posed : Will those hitherto unknown of funds result in earlier disbursements if we do not send our letter of request, but should we do so, could that amount be retained for a three-year period, and perhaps result in smaller amounts, from, for example, the trustee incurring further legal fees due to our request, rather than simply answering our specific questions? To the best of our knowledge, the Trust Accounting was done by the trustee, there is no indication of any Vendor’s name whose accounting services may have been engaged.

Asked on 8/19/12, 5:52 pm

1 Answer from Attorneys

Victor Waid Law Office of Victor Waid

The services of a trust attorney should be sought and let him analyze the documents you possess and be able to give you the opinion letter you are seeking, as to the effect of requesting or not requesting early trust distributions; I suspect the monies being withheld is a reserve for potential future tax liability or other contingent expenses, and yes the trustee should get paid for his services, including the attorney representing him.

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Answered on 11/09/12, 5:18 pm

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