Trust & Probate Litigation Attorney

46. Does a trustee need to do anything specific when a settlor passes away?

Yes. If there is a change in trustees, then the new trustee must sign a written acceptance of trusteeship and/or a Certification of Trust. If the trust becomes irrevocable when the settlor dies, then the trustee must provide notice of the trust to all the trust beneficiaries and heirs of the decedent. If the trust assets include real property, the trustee must give written notice of to the Assessor’s Office. If the settlor received health care benefits from the State, the trustee must give written notice of the settlor’s death to the Director of Health Services.

bankruptcy glossary terms