Does trustee have a timeframe that must be adhered to for settling a trust account after an estate has been closed?

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Does trustee have a timeframe that must be adhered to for settling a trust account after an estate has been closed?

I was personal representative for my mother’s estate. After 4 long years we were finally able to close the estate. I issued a final check to the trust account (which lies with a different person other than myself). That check was cashed 6 months ago. For the last 3 months (when I inquired about where we are with finalizing the trust) I’ve been continually told it’s in accounting by the trust attorney. What can I do to get her to finish the task at hand?

Asked on August 5, 2011 Ohio

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

There are no set time periods for when a trust administration is concluded. Some trusts have significant assets or there are complications in getting information such as appraisals, estate tax returns (federal and state) and issues with the beneficiaries.

Four years is a long period of time for a trust administration to be ongoing. If the hold up at this point seems to be the attorney and accounting issues, you need to set up an appointment with the attorney and go over what needs to be done to conclude the trust administration so you have a time line for your expectations.

I suspect that the delay is getting the final accounting in order for the final estate tax returns (state and federal).

Good luck.


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