Related Definitions
What is a Trust?
A legal agreement that grants a third party, or fiduciary, the authority to hold and manage assets for the beneficiaries of an estate.
A legal arrangement in which a grantor transfers assets to a trustee, who manages and administers those assets for the benefit of designated beneficiaries. Trusts can be established for various purposes, including estate planning, asset protection, and charitable giving. Trusts can be revocable (allowing the grantor to modify or dissolve the trust) or irrevocable (restricting changes after establishment). They provide flexibility in asset management and can help avoid probate while ensuring privacy and control over asset distribution.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
- Trust Administration
- 18 min read
Community Property Trusts in California: What You Need to Know
- Published on
Key Takeaways Introduction In a community property state like California, community property trusts can be a beneficial estate planning tool for married couples. These [...]
Key Takeaways Introduction In a community property state like California, community property trusts can be a beneficial estate planning tool for married couples. These […]
- Estate Administration
- 19 min read
Probate for Real Estate in California
- Published on
Key Takeaways Introduction Real estate property is often one of the most valuable assets administered during probate—these may include a primary residence, vacation home, [...]
Key Takeaways Introduction Real estate property is often one of the most valuable assets administered during probate—these may include a primary residence, vacation home, […]
- Estate Executors and Administrators
- 16 min read
Common Executor Mistakes
- Published on
Key Takeaways Introduction During the probate administration process, an executor plays a crucial role and has significant responsibility, including marshaling and inventorying all assets, [...]
Key Takeaways Introduction During the probate administration process, an executor plays a crucial role and has significant responsibility, including marshaling and inventorying all assets, […]
- Trust Administration
- 3 min read
What Happens to a Revocable Trust When the Grantor Dies?
- Published on
Executive Summary Introduction A trust is a fiduciary arrangement where the title of assets are placed under the control of a third party known [...]
Executive Summary Introduction A trust is a fiduciary arrangement where the title of assets are placed under the control of a third party known […]
- Trustees
- 13 min read
How to Handle a Trustee Not Acting in Beneficiaries’ Best Interest
- Published on
Executive Summary Learning How to Address a Trustee Not Acting in a Beneficiary’s Best Interest A trustee not acting in the beneficiaries’ best interest [...]
Executive Summary Learning How to Address a Trustee Not Acting in a Beneficiary’s Best Interest A trustee not acting in the beneficiaries’ best interest […]
- Trust Administration
- 8 min read
Affidavit of Successor Trustee California: What to Know
- Published on
Key Takeaways Introduction A successor trustee is an individual who takes over the administration of an estate from the originally identified trustee after they [...]
Key Takeaways Introduction A successor trustee is an individual who takes over the administration of an estate from the originally identified trustee after they […]
- Trustees
- 16 min read
Co-Trustee Problems: Common Disputes and Resolutions
- Published on
Key Takeaways What Are Co-Trustees Co-trusteeship refers to the appointment of multiple trustees to manage and administer a trust, which is a legal arrangement [...]
Key Takeaways What Are Co-Trustees Co-trusteeship refers to the appointment of multiple trustees to manage and administer a trust, which is a legal arrangement […]
- Breach of Fiduciary Duty
- 13 min read
What Constitutes a Breach of Fiduciary Duty?
- Published on
Key Takeaways Introduction When a professional serves in a fiduciary role they have a responsibility to do the best possible job for the client [...]
Key Takeaways Introduction When a professional serves in a fiduciary role they have a responsibility to do the best possible job for the client […]
- Probate Estate Litigation
- 13 min read
What Questions To Ask a Probate Attorney
- Published on
Key Takeaways Introduction A probate attorney is a valuable resource during the probate and estate administration process. Depending on your needs, they can support [...]
Key Takeaways Introduction A probate attorney is a valuable resource during the probate and estate administration process. Depending on your needs, they can support […]
- Will Contest
- 12 min read
How Long Do You Have To Contest a Will or Trust in California?
- Published on
Key Takeaways Introduction If you are planning on contesting a will or trust in California, there are specific deadlines you must follow for your [...]
Key Takeaways Introduction If you are planning on contesting a will or trust in California, there are specific deadlines you must follow for your […]
- Probate Litigation
- 11 min read
Strategies for Minimizing Probate Costs in High-Value Estates
- Published on
Executive summary Introduction Probate can be a helpful process for distributing the estate assets of a deceased individual to the rightful heirs and beneficiaries. [...]
Executive summary Introduction Probate can be a helpful process for distributing the estate assets of a deceased individual to the rightful heirs and beneficiaries. […]
- Trustees
- 14 min read
California Successor Trustee Checklist
- Published on
Key Takeaways Introduction A successor trustee is the individual first in line to take over the administration of a trust when the initial trustee [...]
Key Takeaways Introduction A successor trustee is the individual first in line to take over the administration of a trust when the initial trustee […]