ASK HARRY: How Do You Dissolve a Revocable Trust After Death?
Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987.
Question: My father passed away last year. (My mother passed away several years ago.) He had a revocable trust that says that upon his death the trust holdings, his home and some investment accounts, be distributed to me and my two siblings. I’m the successor trustee. What should I do now with respect to the trust?
Response: The trust will end when all of the property it holds is distributed. Assuming you and your siblings want to sell the house, it’s easiest to wait to dissolve the trust until the sale goes through. That way, there’s just one seller — the trust — rather than three — you and your siblings.
...HEAT ADVISORY REMAINS IN EFFECT UNTIL 8 PM CDT THIS EVENING...
* WHAT...Heat index values up to 106 expected.
* WHERE...Much of Central Alabama.
* WHEN...Until 8 PM CDT this evening.
* IMPACTS...Hot temperatures and high humidity may cause heat
illnesses.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Drink plenty of fluids, stay in an air-conditioned room, stay out of
the sun, and check up on relatives and neighbors. Young children and
pets should never be left unattended in vehicles under any
circumstances.
Take extra precautions if you work or spend time outside. When
possible, reschedule strenuous activities to early morning or
evening. Know the signs and symptoms of heat exhaustion and heat
stroke. Wear light weight and loose fitting clothing when possible
and drink plenty of water.
To reduce risk during outdoor work, the Occupational Safety and
Health Administration recommends scheduling frequent rest breaks in
shaded or air conditioned environments. Anyone overcome by heat
should be moved to a cool and shaded location. Heat stroke is an
emergency! Call 9 1 1.
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