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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 22998
Experience:  14 yrs estate law, real estate. Wills/Trusts/Probate
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Is there a time limit to settling estates held in revocable

Resolved Question:

Is there a time limit to settling estates held in revocable trusts under WA state law
Submitted: 2 years ago.
Category: Estate Law
Expert:  Barrister replied 2 years ago.
Hello,

If the trust states that any assets are to be distributed upon the grantor's death, then the Trustee would have a "reasonable time" depending on the complexity of the trust to distribute all assets to the named beneficiaries. So if it is a simple trust where it only holds cash assets, a reasonable time might be a few weeks. If it held real estate where deeds would have to be prepared, maybe a month or two.
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If a beneficiary feels that the Trustee is intentionally delaying settling the trust, they can file a "motion to compel" in the probate court and compel the Trustee to appear and explain to a judge what is causing the delay in settling the trust.
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Thanks.

Barrister

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Please be patient as I am typically working with several customers at any given time. Some answers take 5 minutes, some 35 minutes, depending on the level of complexity. But rest assured, I will get back with you as soon as I am able.

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If you need additional clarification on this question, just click "Reply" and I will be happy to help you. Please give me as much detail as you can so that I can respond after receiving all the relevant details.

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Please be aware that I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. With that in mind, please do not post any specific information you do not want available for public viewing. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 2 years ago.
I think this is great but if there is real estate as in my case is the law definitive. It has been 6 months and I have no word from my sister who executor
Expert:  Barrister replied 2 years ago.
Since a trust is a private document it would not go through probate and there is no set time limit in WA for a trust to settle.
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You do have the right to request an "accounting" from the Trustee if you do so in writing. The Trustee would have to provide a list of all inflows and outflows from the trust so you can get an idea of whether or not she is distributing anything.
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So I would suggest sending a certified letter to her requesting an update as to the status of settling the trust and when you could expect any distribution you were entitled to.
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But you use the term "executor" and this only applies with a will. A trust has a Grantor (maker) , a Trustee (who is in charge of administering the trust) and beneficiaries (who get the assets)
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Is this a will or a trust?
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If it is a will, then 6 months is not very long as there are certain statutory notice periods that apply to creditor claims that have to expire before the executor could begin to distribute any assets.
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Thanks.

Barrister

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Please be patient as I am typically working with several customers at any given time. Some answers take 5 minutes, some 35 minutes, depending on the level of complexity. But rest assured, I will get back with you as soon as I am able.

.

If you need additional clarification on this question, just click "Reply" and I will be happy to help you. Please give me as much detail as you can so that I can respond after receiving all the relevant details.

.

Please be aware that I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. With that in mind, please do not post any specific information you do not want available for public viewing. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 2 years ago.
Still great! But I would like to confirm that this is a Revocable trust. There is a will from 1993 amended as revocae trust on 2006. My sister is referred to as successor trustee. Do you
mean in this response to state that this trust never needs to settled under law? It is a 3 way split among 3 children Is there no recourse under law for setting a timeline. My sister has not reported on anything which includes a money market, mutual funds, checking account and property
Expert:  Barrister replied 2 years ago.
Ok, if it is a revocable trust (now irrevocable since the death of the Grantor), then there is no statutory time limit in which to settle it.
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But the trust itself should state something like "upon Grantor's death, assets shall be distributed to X, Y and Z in equal shares" or whateve the terms are.
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So if the Trustee is dragging her heels in distributing the trust assets, any beneficiary could file the "motion to compel" I mentioned previously to force the Trustee to appear in front of a probate judge and explain the delay. The judge can then order Trustee to distribute the assets and set a date certain that it must be done by or the Trustee can be held in contempt of court and formally removed as Trustee.
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Thanks.

Barrister

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.
Please be patient as I am typically working with several customers at any given time. Some answers take 5 minutes, some 35 minutes, depending on the level of complexity. But rest assured, I will get back with you as soon as I am able.

.

If you need additional clarification on this question, just click "Reply" and I will be happy to help you. Please give me as much detail as you can so that I can respond after receiving all the relevant details.

.

Please be aware that I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. With that in mind, please do not post any specific information you do not want available for public viewing. The information provided is not a substitute for a local attorney’s legal advice.

Barrister, Attorney
Category: Estate Law
Satisfied Customers: 22998
Experience: 14 yrs estate law, real estate. Wills/Trusts/Probate
Barrister and 3 other Estate Law Specialists are ready to help you
Customer: replied 2 years ago.
I would.like clarification. if I file a motion to compel, does that then begin the process of sending the trust through probate and involve all the additional expense of that? Do I have to get an attorney for that?

Also, in talking with two potential firms I still do not know if my sister, the successive trustee, needs to file anything anywhere. I am uncertain of her duties. There are no laws governing anything other than filing tax information. Is that correct?
Expert:  Barrister replied 2 years ago.
No, this does not bring the probate court into the case any further than to examine the trust document and determine if Trustee's actions are reasonable or not. It must be filed in probate court because that is the court that handles anything to do with estates.
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She doesn't have to file anything formally with any agency other than taxes.
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However, trusts in Washington are controlled by the Uniform Trust Code, which has certain requirements. Regular reporting by the trustee is required. The trustee must furnish the qualified beneficiaries at least annually with a report of the trust property, liabilities, receipts, and disbursements, including the source and amount of the trustee’s compensation (Section 813(c)). The trustee must also promptly respond to any beneficiary’s request for information, unless unreasonable under the circumstances (Section 813(a)). This includes a requirement that the trustee provide a beneficiary upon request with a copy of the trust instrument (Section 813(b)(1)).
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.

.

Thanks.

Barrister

.

.
Please be patient as I am typically working with several customers at any given time. Some answers take 5 minutes, some 35 minutes, depending on the level of complexity. But rest assured, I will get back with you as soon as I am able.

.

If you need additional clarification on this question, just click "Reply" and I will be happy to help you. Please give me as much detail as you can so that I can respond after receiving all the relevant details.

.

Please be aware that I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. With that in mind, please do not post any specific information you do not want available for public viewing. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 2 years ago.
Ok the trust has mutual funds, money market and checking account. I terms of disbursing the trust assets are the mutual fund and money market account treated as simple cash-like assets because they can be readily disbursed?

For the property (5.5 acres) , which is worth 1.2M, how is that divided legally and physically? Who draws the boundaries? And how do local zoning laws affect the division?
Expert:  Barrister replied 2 years ago.
Yes, cash accounts can simply be closed and the proceeds distributed at any time.
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For the property (5.5 acres) , which is worth 1.2M, how is that divided legally and physically? Who draws the boundaries? And how do local zoning laws affect the division?
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I would have no idea because that would be spelled out in the trust who gets what and how it is to be divided. As for local zoning laws, you would have to check with the local planning and zoning department in the city/county where it is located.
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Thanks.

Barrister

.

.
Please be patient as I am typically working with several customers at any given time. Some answers take 5 minutes, some 35 minutes, depending on the level of complexity. But rest assured, I will get back with you as soon as I am able.

.

If you need additional clarification on this question, just click "Reply" and I will be happy to help you. Please give me as much detail as you can so that I can respond after receiving all the relevant details.

.

Please be aware that I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. With that in mind, please do not post any specific information you do not want available for public viewing. The information provided is not a substitute for a local attorney’s legal advice.

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