California Probate Code 19050 – Except as provided in Section 19054, if the trustee has knowledge of …
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Except as provided in Section 19054, if the trustee has knowledge of a creditor of the deceased settlor, the trustee shall give notice to the creditor. The notice shall be given as provided in Section 1215. For the purpose of this section, a trustee has knowledge of a creditor of the deceased settlor if the trustee is aware that the creditor has demanded payment from the deceased settlor or the trust estate.
(Amended by Stats. 2007, Ch. 159, Sec. 14. Effective January 1, 2008.)
Terms Used In California Probate Code 19050
- Creditor: means a person who may have a claim against the trust property. See California Probate Code 19000
- Deceased settlor: means a deceased person who, at the time of his or her death, held the power to revoke the trust in whole or in part. See California Probate Code 19000
- Trust: means a trust described in Section 18200, or, if a portion of a trust, that portion that remained subject to the power of revocation at the deceased settlor's death. See California Probate Code 19000
- Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84
- Trustee: A person or institution holding and administering property in trust.