What is the name of your state?What is the name of your state? CA
Hello.
My father recently passed away and I am successor trustee to his estate. I just found out that three different stocks which are listed among his assets on his trust paper work, were still jointly owned with my deceased mother. The company that put together the trust with my father claimed that they had reminded him to change the way these stocks were held (put them in the trust officially), but that apparently he had never done it. They tell me it was his responsibility not theirs. I am wondering is that true, do they have no responsibity to see that the trust was set up right?
Now, the situation seems to be that although the rest of his estate is included in his trust and will not have to go thru probate, the three stocks will have to go through probate. Could you tell me is there a maximum dollar amount that does not have to go through probate in a situation like this? Thank you.
Hello.
My father recently passed away and I am successor trustee to his estate. I just found out that three different stocks which are listed among his assets on his trust paper work, were still jointly owned with my deceased mother. The company that put together the trust with my father claimed that they had reminded him to change the way these stocks were held (put them in the trust officially), but that apparently he had never done it. They tell me it was his responsibility not theirs. I am wondering is that true, do they have no responsibity to see that the trust was set up right?
Now, the situation seems to be that although the rest of his estate is included in his trust and will not have to go thru probate, the three stocks will have to go through probate. Could you tell me is there a maximum dollar amount that does not have to go through probate in a situation like this? Thank you.