tenancy-in-common agreement

I recently had the privilege of serving as one of the Sacramento Bee’s experts for the “Ask the Expert” column by Claudia Buck, Personal Finance columnist. The following Q & A, based on an answer I wrote that was posted online at www.sacbee.com/personalfinanceblog, deals with a topic that comes up regularly in my practice and may be a situation you have faced: how long, after the death of the settlor, can the assets remain in the trust before distribution to the trust beneficiaries must be made?

Q:  “Is there any harm in leaving a house titled in a trust name after a person is deceased? All other assets have been disbursed, the house is a rental and the rent is split evenly (after expenses) among the siblings, each claim the income and expenses on our individual tax returns, is that okay?”  

Continue Reading How Long Can Assets Remain in a Trust after the Death of the Settlor?