How long does it take to settle a trust and what can we do if it isn’t done in a reasonable time?

How long it takes to settle a Trust after the Grantor dies depends on what needs to be done. It might take a few months, and it might take much longer. If the Trustee has to value and sell numerous assets, if several creditors have made demands on the Trust, or if there is a complicated tax situation, the process can take some time.

It’s possible in this kind of situation for one or more Beneficiaries to go to court to ask to have the Trustee replaced or to force the Trustee to act, but this might not be a good idea unless the situation is very serious. You need to make sure that the Trustee really is acting unreasonably, because the court will only remove a Trustee chosen by the Grantor if the Trustee has really acted badly or negligently.
Disputes over the time it takes to settle a Trust or an estate often arise among family members. For example, if one sibling has been named Trustee, the others might think he or she isn’t resolving the Trust fast enough, or a Trust estate may seem cut and dried and the Beneficiaries may get impatient when things aren’t resolved quickly.

Handling an estate after the death of a parent or other close relative is often a burdensome and thankless task. Sometimes there are a lot of odds and ends to deal with, including bills to pay, papers to go through, and assets and claims to reduce to cash.

At the same time there often is sadness and a sense of loss. Some people cope by keeping the estate open as a way of not coming to grips with the finality of the death. Family members go through their grief in different time frames, and it does not mean that the one who takes less time loved the deceased less, or the one who takes longer loved him or her more.

When calling on the person selected to handle the matter to speed it along, even for the best of reasons, resentment often creeps in that can set up a counter reaction and drag things out further. You know that there is work involved, you recognize what the Trustee has been doing on the estate and you know that it is a burden. I hope that this answers some of your questions.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *