Elizabeth Taylor Probate started. Notice to creditors filed with the court. She had a trust from 1998

RadarOnline.com is reporting that Elizabeth Taylor established her trust just four months after a near-death experience at her Bel Air, Calif., home when she suffered a fracture in her lower back.

The Hollywood legend's move was revealed in court papers filed March 25 with the Los Angeles County Superior Court.

Taylor, who died March 23 at age 79, created the trust on June 23, 1998.

The trustees of Taylor's estate, Barbara Berkowitz, Christopher E Wilding and Timothy R Mendelson, told the court creditors must advise them within four months if they'll file any claim. Paul Gordon Hoffman is the attorney for the trustees who filed in probate court. A copy of the notice to creditors can be seen by clicking here.

The creditor period in California is similar to that in Florida than although unknown or creditors who are termed not reasonably acertainable are only given 3 months absent the judge extending the time for good cause shown while in California apparently they are given four months. Creditors for a Florida trust or estate that the trustee/personal representative knows of or should know of need to get actual notice to creditors instead of just publishing notice to creditors which they may not see. They are given the greater of 3 months after publication or 1 month after serving them in Florida. The publication runs once a week for two consecutive weeks in a publication authorized to post legal notices. In California the forms show that the known or reasonably ascertainable creditors get the greater of 4 months after publication or 2 months after actual service. 

With a funded trust the assets do not go through the probate process but in order to run the creditor period a probate is needed to be opened. If the property passes through transfer on death designations it passes outside the trust or estate and entirely avoids the probate process in Florida. If no notice to creditors were given the creditors period runs for two years after the date of death After that term the unsecured creditor claims are barred and the time cannot be extended.