In California, the timeline for settling an estate varies depending on the complexity of the assets and the specific procedures involved. Here is a general overview of the process for trust administration:
Obtaining the death certificate: It usually takes a couple of weeks to receive the death certificate, which is required to begin the administration process.
Notice to heirs and beneficiaries: Once the administration process starts, the trustee must send a notice to all heirs and beneficiaries informing them of the decedent's passing and the trust's irrevocable status. This notice has a 120-day period during which beneficiaries can contest the trust contents. This timeframe can be shortened if a copy of the trust is included with the notice.
Estate administration: After sending the notice, the trustee can begin administering the estate, which may involve clearing the house, selling personal items, donating appropriate items, appraising assets, and listing real estate for sale.
Accounting: After the 120-day period (or a shorter period, if applicable), the trustee prepares and sends an accounting to the beneficiaries. This document provides a snapshot of the estate's assets, date of death values, current values, expenses, and proposed distributions.
Objections to accounting: Beneficiaries have 180 days to object to the accounting from the day they receive it.