Q: Is a Revocable Trust considered abandoned if it hasn't been used in years?
My mom passed away and her will states that her estate be gifted to a 2004 Revocable Trust that references California law. My mom sold her California property in 2005 when she moved to Colorado that same year. She just passed away in Colorado and none of her property here was in the name of the trust. Since the trust references California law and none of her property has been in the trust name since 2007, would the trust be considered abandoned?
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- Colorado
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A: No, not at all. That is called a pour over will. The will needs to be probated. Pursuant to the will, the probate court will order that all of the assets in her estate be transferred into the name of the trust. Then the trust needs to be administered according to its terms. You need a probate attorney and a trust administration attorney. Most attorneys that do one or the other can do both.
Diedre Wachbrit Braverman and Bennett Braverman agree with this answer
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- Colorado
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A:
The trust only controls property that it owns or is a beneficiary of. So while your mother’s trust is still valid and in effect, it doesn’t affect anything so you can ignore it.
You may want, however, to register the trust in Colorado just in case some asset turns up.
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