§ 11465. — 11465. (Added by Stats. 1991, Ch. 1055, Sec. 31.)

California § 11465.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 7.: DIVISION 7. ADMINISTRATION OF ESTATES OF DECEDENTS
• Part 9.: PART 9. PAYMENT OF DEBTS
• Ch. 4.: CHAPTER 4. Debts That are Contingent, Disputed, or Not Due

Text

(a)
The court may order that a trustee be appointed to receive payment for a debt that is contingent, disputed, or not due. The court in determining the amount paid to the trustee shall compute the present value of the debt, giving consideration to a reasonable return on the amount to be invested. The trustee shall invest the payment in investments that would be proper for a personal representative or as authorized in the order.
(b)
The trustee shall pay the debt as provided in the order. On completion of payment, any excess in possession of the trustee shall be distributed in the manner provided in Section 11642.

Legislative History

Added by Stats. 1991, Ch. 1055, Sec. 31.