What happens with a trust if executor becomes deceased and the trust not every transferred. The will was probated the heirs were just 21 when executor passed away.
Hopefully the trust/will contains a clause referencing successor language. In most all cases it will probably involve a court blessing in the county and state of trust/will designation. If there is no clause, the heirs will need to petition the court to name a successor. If ownership resides within counties of the same state copies will need to be placed of record in each. The same holds true if there is ownership in multiple states but the process may require more process steps.
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Facts are not clear, but one of the beneficiaries needs to hire an attorney specializing in trust and estates to review will and the revocable trust if the will was a pour over will, together with the probate file and the real property records in the counties in which decedent owned any type of real property to determine what needs to be done. It is likely that there are tax returns that need to be filed and creditor claims to be addressed. The documents may allow a successor to be easily appointed if a trustee is involved but if a successor executor needs to be appointed a court procedure will be involved.
The only successor would be myself as everyone else has passed on. I have filed several affadavit of heirship in several of the counties. I wish I had the ability to hire someone but I don’t have the finances as most have asked for a large retainer fee. I will try to keep muddling through the process best I can for now. If I can find info on line to what form needs to be filed in the county the will was probated would be very helpful. If anyone should know. Thanks
pour over will what does that mean exactly?
It simply means all estate assets are directed to fund a specific trust.
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