How long does it take to settle a trust?

Question

How long does it take to settle a trust? Is the money available immediatley or is there a waiting peroid. I know someone who passed away recently and they had a trust and a will. I believe the will is going to probate next week. Are the funds from the trust available right away?

Answer 1

It depends on the type of trust that was set up.  Some have a waiting period, others are available immediately.  They need to research what type it is to find out.  I am sure the people in charge of the trust will be able to help with any questions as well...

A note on the previous comments, the type of trust actually has more to do with it than the trustee or the number of beneficiaries.  These are things that can be decided down to the penny before a person dies.  Regardless of the trustee and the number of beneficiaries, the trust may still be available immediatly, depending on the kind of trust.

:)

Answer 2

First answer of 3 years is a good average depending on the size of the inheritance and number of beneficiaries

Answer 3

It took 3 years for my wife's grandfathers trust to get settled. It just depends on who's the trustee and how good they are.