Distribution of Assets-Living Trust
Question Details: My mother died on 10/25/05, my father 01/31/06. My eldest sister was responsible for distributing the assets. The assets were to be divided equally among 6 siblings. I've received a lesser amount than my siblings and there is no accounting for the sell of 2 homes or personal property. In 2007, I asked for an accounting and she sent me a check for approx. $4000. Again, I have no way to determine accuracy. How can I obtain an accounting of property & assets. Thank You
Wills, Trusts, Probate Law Answers
I take it she did not provide you with the requested accounting. There are provisions in the California probate code dealing with accounting by trustees and a process for compelling a trustee to account. In order to obtain a court order directing a trustee to account, a beneficiary first needs to make a written demand on the trustee to produce an accounting within sixty days. If the requested accounting has not been provided within the 60 day period, the beneficiary may then petition the court for an order directing the trustee to account.
See in general regarding trust accountings, California Probate Code Section 16060 and following. See with regard to compelling trustee to account, Section 17200(b)(7),
There are some costs involved in bringing an action against a trustee. I strongly recommend that if you are concerned enough to go to court to compel an accounting you only do so with the advice and assistance of an attorney. Be sure you understand the financial risks involved and have determined the cost of proceeding is justified before you start the process.
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