Current through October 31, 2024
Section 15.12 - What happens if assets in a trust estate may be diminished or destroyed while the probate is pending?(a) This section applies if an interested party or BIA: (1) Learns of the death of a person owning trust or restricted property; and(2) Believes that an emergency exists and the assets in the estate may be significantly diminished or destroyed before the final decision and order of a judge in a probate case.(b) An interested party, the Superintendent, or other authorized representative of BIA has standing to request relief.(c) The interested party or BIA representative may request:(1) That OHA immediately assign a judge or ADM to the probate case;(2) That BIA transfer a probate file to OHA containing sufficient information on potential interested parties and documentation concerning the alleged emergency for a judge to consider emergency relief in order to preserve estate assets; and(3) That OHA hold an expedited hearing or consider ex parte relief to prevent impending or further loss or destruction of trust assets. 73 FR 67278 , Nov. 13, 2008, as amended at 76 FR 7505 , Feb. 10, 2011