A: A Notice of Proposed Action essentially requires a beneficiary to “speak now or forever hold their peace.” California Probate Code sections 16500-16504 permit a trustee to give notice to the beneficiaries of a trust that the trustee intends to take (or not to take) some kind of specified action. After obtaining the consent of the beneficiaries, or waiting at least 45 days, the trustee may proceed with the proposed action without any liability.
Q: What is a Notice of Proposed Action?
by Rose Law Firm of Napa Valley, Inc. | May 25, 2022 | Estate Planning, Q&A |
Categories
- Annual and Lifetime Gift Tax Exclusions (9)
- Business (11)
- Conservatorships (2)
- Español (3)
- Estate Planning (220)
- Joint Tenancy (4)
- Q&A (263)
- Succession Plan (4)
- Title and Deeds (31)
- Trust And Estate Administration (84)
Recent Posts
- Q: Can I name all of my kids as co-trustees of my trust when I die, or do I have to pick one?
- Q: My mom recently died with more debts than assets. Am I personally liable to pay all of my mom’s debts now?
- Q: My spouse and I have a trust from 20 years ago. Should it be updated?
- Q: If my husband and I add someone as a joint tenant, will that trigger property tax reassessment?
- Q: Are a will and an estate plan the same thing?
Connect with us
Pay Online Here
