How Is a Trustee Removed?
If you have questions about how the trustee of your family trust is acting, you may want to consider having them removed. However, removing a trustee can be a costly and challenging process. Once appointed, trustees have numerous rights and responsibilities. However, they typically do not have the right to quit being a trustee without […]
How Is a Trustee Appointed?
A trust is a legal creation that gives one person a right to benefit from an asset while it is held by another person. The second person creates the trust by granting the right in the asset or property they own. This person is referred to as the “grantor.” The grantor can also name someone […]
How Do You Terminate a Trustee?
Executive summary Introduction Creating a revocable living trust is an important step in comprehensive estate planning. Typically, you act as the trustee, ensuring your assets are managed competently while still alive. Then, when you pass away, your designated successor trustee will manage and distribute the trust’s property. When you appoint your successor trustee, you should […]
Who Has the Power to Remove a Trustee?
A trustee is an individual who administers a trust on behalf of the beneficiaries. Trustees are responsible for managing trust assets, including maintaining the property and making sure it is productive – i.e. generates income or profit. However, a trustee’s job can be challenging and downright impossible if they don’t have the skills or expertise […]
What Is the Difference Between a Probate Lawyer, an Estate Lawyer and a Probate Litigation Lawyer?
There are three primary types of lawyers who work with estate law: probate lawyers, estate lawyers, and probate litigation lawyers. While they both work in the same area of law, probate lawyers handle the probate process after an individual passes away, while estate lawyers help living clients set up wills, trusts, or other estate planning […]
Does a Spouse Automatically Inherit Everything?
The death of a spouse is one of life’s most emotionally challenging events, and that sudden change can also create financial uncertainty. While many people assume surviving spouses automatically inherit everything of an entire estate, this is not the case in states like California and Texas. If your deceased spouse dies with a will, their […]