What happens if the settlor dies without having put some of his or her assets in the trust?
If a settlor listed property on a schedule when they created the trust (showing their intent to put the property in the trust) but dies without changing the title to the property, the trustee can petition the Court to include the property as part of the trust. For more information, read Probate Code Section 17200.
Related Questions
- Unfunded Trusts: After the death of the settlor of a trust, the client will not place assets into the name of the trust entitled to the asset. What should the CPA do?
- What happens to my assets in a trust for a charity if the charity goes out of business before the expiration of the trust?
- How are assets of the Special Disability Trust treated?