California Probate Code 16049 – Within a reasonable time after accepting a trusteeship or receiving …
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Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.
(Added by Stats. 1995, Ch. 63, Sec. 6. Effective January 1, 1996.)
Terms Used In California Probate Code 16049
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trust: includes the following:
California Probate Code 82