Ask an Estate Law Question, Get an Answer ASAP!
Thank you for using JustAnswer.
Is this a Trust that owns the real property? Is there also a Will that must be probated?
No apologies needed. I like more information rather than less (most people offer less and assume I read minds --- wish I could)
First, I am sorry for your loss.
Trusts in California are much more flexible than Wills, which are subject to probate procedure once a probate is filed. Your sister can move as fast or slow as she likes, but cannot simply sit and do nothing. In other words, unless the trust dictates specifics about a timeline in which the trust must be terminated and distributed, a "reasonable time" is presumed.
As trustee, she could lease the property or market it for sale. Most trustees who are also children of the decedent will take into account their siblings wishes, but need not. I agree with you that the market here in California is likely not going to improve significantlly in the near future. Most experts believe there is still another 10% downslide ahead of us. Please feel free to ask any follow-up question you might have. Thanks!
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).