159: Trustees' Checklist: Essential Notices You Can't Afford to Miss

Absolute Trust Talk

Trustees, are you confident you’ve completed all your legal responsibilities? This final, crucial question is one every trustee should ask—but the answer is rarely simple. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into the often-overlooked legal notices trustees are required to send before making final distributions. They discuss the critical 120-day notice to trust beneficiaries and heirs, informing them of their rights to contest the trust. They also cover essential notifications to the Department of Health Care Services and the county assessor’s office. Missing these steps might seem minor, but they can lead to significant delays and legal complications. Tune in to learn more about these requirements and why addressing them early is essential for a seamless trust administration.

Time-stamped Show Notes:

0:00 Introduction

1:15 Picking up from our previous episode with the fourth and final question for trustees: “Have I done everything I’m required to do?”

2:00 Next, let’s explore the first of several common notices that trustees often overlook.

2:30 The 120-Day Notice to Beneficiaries and Heirs: Why this written notice is crucial and its specific language requirements.

3:38 There are beneficiaries, and then there are heirs. Here’s what you need to know about notifying each as a trustee.

5:00 Have you filed a notice to the Department of Healthcare Services? We discuss why it's an important step, even if you believe it doesn't apply.

6:30 If the decedent owned any real estate, you’ll need to submit this to the county assessor’s office. Listen in for more details.

7:10 The final takeaway: Ask the questions we covered today sooner rather than later to avoid complications.