Most guides for Revocable Trusts, in California, state such trusts are for the dispensation of the settler trustee’s assets to t

Can properties and homes be managed (taxes paid, maintained, etc) for the use of the beneficiaries as opposed to their being divided up, or sold and the proceeds transferred to them?
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Answers (2)

Henry Daniel Lively

Henry Daniel Lively

Contributor Level 7
The trustees have to manage the assets in the trust based on the Prudent Investor Act, which will in most circumstances require liquidation of the assets. The settlor can specify the staged payout of the assets, especially for minors. The settlor can give the trustee the ability to hold certain concentrations of assets, keep assets such as homes for a period of time, etc. However, assets need to be distributed in a reasonable period of time. This may be affected by market conditions.

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Peter Robert Stone

Peter Robert Stone Avvo Pro

Contributor Level 7
You need to read the trust documents. If there is a required distribution then the assets need to be distributed.
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