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  1. #1
    Relent_less is offline Junior Member
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    May 2008
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    Question Trust Disbursement

    What is the name of your state (only U.S. law)? New Jersey


    The trust is from California.

    I have a simple question, Is there a time frame for the Trustee to disburse monies from a sale of a home?

    My brother (Sucessor Trustee) to my father's estate sold my father's home on 4/15/08.
    We found out about this only by public record he for some unknown reason didn't inform us until we confronted him with proof.

    This is the last piece of the trust,there are no other debts to be satisfied,and the proceeds from the home were to be distributed after sale as`per the trust.

    He claims after every phone call that he's still working on it and has and will not show us any paperwork associated with the sale.


    Thank you in advance for any help
    Last edited by Relent_less; 07-16-2008 at 10:48 PM.
  2. #2
    Relent_less is offline Junior Member
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    Did I Ask an inappropriate question??

    I'm a bit confused why there were so many views of my question and not one response!
  3. #3
    curb1 is offline Senior Member
    Join Date
    Mar 2002
    Location
    oregon
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    You asked, "I have a simple question, Is there a time frame for the Trustee to disburse monies from a sale of a home?"

    Up to a couple of years would be reasonable. Common sense would suggest that the sooner the better if there were no outstanding obligations.
  4. #4
    Join Date
    Jul 2008
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    Tallahassee, Florida
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    Quote Originally Posted by Relent_less View Post
    What is the name of your state (only U.S. law)? New Jersey


    The trust is from California.

    I have a simple question, Is there a time frame for the Trustee to disburse monies from a sale of a home?

    My brother (Sucessor Trustee) to my father's estate sold my father's home on 4/15/08.
    We found out about this only by public record he for some unknown reason didn't inform us until we confronted him with proof.

    This is the last piece of the trust,there are no other debts to be satisfied,and the proceeds from the home were to be distributed after sale as`per the trust.
    Generally the Trust documents should provide the time frame in which a distribution should be made. Until the distribution is made the funds received from the sale of the asset should be kept in the Trust's account and managed in accordance with the terms of the Trust.

    If you are a beneficiary of the Trust, you have the right to request an accounting at anytime and see that the assets are being handled properly. Also, if this is truly the only asset of the Trust then once all funds have been distributed the Trust should be dissolved. The Trustee should ensure that all trust liabilities have been satisfied prior to the dissolution and should distribute the funds based upon the priority set forth in the Trust documents.

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