How ling does the process of distributing a trust take?

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How ling does the process of distributing a trust take?

And how much does the bank in charge of the trust keep? Uncle just died and his trust goes to 7 heirs.

Asked on April 17, 2011 under Estate Planning, Kentucky

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am so sorry for your loss.  Dissolving a trust and distributing the assets will take some time to do correctly.  Was there a Last Will and Testament as well?  Then that will have to be probated.  As for the fees that are incurred, the trust pays all of them or should and the fee of the bank is generally set by statute in the state (you may be able to go on line and look it up yourself).  The bank should disclose the information to the trust beneficiaries so you will be made aware of uwhat is going on.  And I wold not feel shy about asking questions as well.  Good luck to you.


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