Much of the trust administration process in California is governed by timelines that the trustee must closely follow. When it comes to terminating the trust or closing the estate, the timeline is slightly different. This is because there is not always a fixed date by which a trust must terminate. As a trustee, you should first carefully review the terms of the trust instrument to see if there are specific Anaheim trustee time limitations for closing the trust or estate. 

After reviewing the terms of the trust, you may find that there is no specific time limitation provided for terminating the trust administration. California law states that a trust must terminate 21 years after the death of the last potential beneficiary of the trust who was alive at the time the trust was created. In most cases, however, a trust may be ready for termination much sooner than that limitation. Questions to consider during this time include the following: 

  •  Have all of the expenses of the estate been paid?
  •  Have all tax returns been filed and any taxes that are owed, paid?
  •  Have the assets of the trust been distributed in accordance with its terms?
  •  If there are still assets within the trust, are they so low that it defeats the purpose of the trust?

If the trust is ready to be terminated, the Anaheim trustee must do so within a reasonable time limitation. To learn more about timelines for trust administration and closing a trust or estate, contact the Law Office of James F. Roberts & Associates, APC, today. Call our office of experienced Anaheim trust administration attorneys at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm
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