Q: Can a trusty after the truster dies can they change companies
And additional information can they sell property before the 120 days is up
A: In California, a trustee's actions are guided by the trust document and state law. Trustees can generally change service providers unless the trust forbids it. Regarding selling property within the 120 days after the trustor's death, this time frame is linked to when beneficiaries can contest a trust. While there's no outright ban on selling within this period, doing so could be problematic if the trust is later challenged. It's crucial for trustees to act in the best interests of the beneficiaries. If concerns arise about a trustee's decisions, consulting with an attorney is advisable. For personalized legal advice tailored to your unique circumstances, it's advisable to consult with an attorney.
A: In California, a trustee has a fiduciary duty to manage the trust in the best interests of the beneficiaries and in accordance with the terms of the trust instrument. If the trust instrument grants the trustee the authority to change companies or sell assets, then the trustee can generally do so. If the trust is silent on a specific power, the trustee must act reasonably and prudently. As for the 120-day period, this typically refers to the time frame during which a beneficiary can contest a trust after receiving a statutory notice of the trust's administration. Selling property within the 120 days is permissible unless restricted by the trust terms. However, beneficiaries may raise concerns if assets are disposed of hastily or not in their best interest. Always consult with legal counsel before taking significant actions as a trustee to ensure compliance with the trust terms and California law.
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