Revocable Living Trust in California
How Does a Revocable Living Trust in California Work After the Trust Maker Dies? Introduction: The Trust Does Not End at Death A revocable living trust is often created to keep estate administration private, organized and outside the formal probate process. After the trust maker dies, the trust moves into its most important stage. In California, a revocable trust commonly becomes irrevocable after the settlor’s death, meaning the main terms can no longer be freely changed. The Successor Trustee Takes Control The person named as successor trustee steps in and begins managing the trust. This role isn’t symbolic. The trustee must locate the trust document, confirm the death, identify trust property, secure assets, review debts as well as follow the written instructions. If real estate, bank accounts, or investments were properly titled in the trust, the trustee can often administer those assets without asking a probate court to approve each distribution. Beneficiaries Must Be ...