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 (8)
- Business (10)
- Conservatorships (2)
- Español (3)
- Estate Planning (200)
- Joint Tenancy (3)
- Q&A (231)
- Succession Plan (4)
- Title and Deeds (28)
- Trust And Estate Administration (78)
Recent Posts
- Q: I already have a trust and I am going to open a new bank account. How can I make sure that new bank account is part of my new trust estate and that it doesn’t end up in probate?
- Q: What is a double step-up in basis, and why is it a big deal for married couples in California?
- Q: Do I have to re-title both of my cars into my trust?
- Q: Is a child who cares for an elderly parent entitled to more of the estate after that parent passes?
- Q: What is the legal “Magic Eraser” that can undo property transfers inadvertently triggering a property tax reassessment?
Connect with us
Pay Online Here
