The person who sets up a trust appoints one or more trustees to manage the trust assets for the benefit of the trust’s beneficiaries. According to California Probate Code §16000, trustees have a legal obligation to follow the instructions outlined in the trust instrument when administering the trust. As part of this duty, trustees must …
What Happens If a Trustee Refuses to Give a Beneficiary Money? Read More »
A significant portion of your duties as a trustee consists of distributing trust assets to trust beneficiaries. When making these distributions, it’s essential that you follow the directives in the trust instrument. What is a trust distribution? A trust distribution is a payment or other distribution of trust assets made by a trustee to one …
In the state of California, trustees have a duty to keep the beneficiaries of the trust reasonably informed about the trust and how it is being administered. As part of this duty, trustees must provide all beneficiaries with an accounting of the trust assets and how they have been used. What is a petition for …
When you contest a will, you challenge the legitimacy of the will in probate court. If a will contest is successful, the court will throw out the invalid will, and the deceased’s property will be distributed either per the terms of an older will or local state probate law. Importantly, you are unlikely to successfully …
The short answer is yes, a trustee can also be a trust beneficiary. One of the most common types of trust is the revocable living trust, which states the person’s wishes for how their assets should be distributed after they die. Many people use living trusts to guide the inheritance process and avoid probate. In …
While California law grants executors considerable authority in managing estate assets, the powers of an executor of a will are limited by the fiduciary duties owed to the estate and its beneficiaries. This means that executors are legally required to act in the best interests of the estate and its beneficiaries. In no case can …
If your sibling dies without a will, their surviving spouse, domestic partner, and children are first in line to inherit. In fact, if there is no will, siblings will only inherit if there are no surviving children, grandchildren, or parents. What are siblings’ rights after parents’ death? If your sibling passes away and does not …
Generally speaking, the executor of a will cannot take everything simply based on their status as executor. Executors are bound by the terms of the will and must distribute assets as the will directs. This means that executors cannot ignore the asset distribution in the will and take everything for themselves. However, if the executor …
Estate contests and disputes can be intimidating for anyone, even a professional trustee. In this guide, we’ve answered some of the questions we’re commonly asked about estate and trust contests, estate disputes, and other issues professional trustees may face. What Are the Most Common Estate Contests and Disputes? Estate contests and disputes occur when an …
The Professional Trustee’s Guide to Estate Contests and Disputes Read More »
Removing a successor trustee is possible, and generally requires filing a petition for removal, while working with a trust litigation attorney. For trust litigators, a common question is whether a successor trustee can be removed or replaced. Successor trustees don’t always manage the trust effectively, or respect the grantor’s true wishes. Sometimes successor trustees will …
Generally, a successor trustee cannot change or amend a trust. Most trusts are initially managed by their creator or original trustee, while they are still alive and competent. But after their passing, a successor trustee must step in to take legal title to assets and administer the trust according to its terms. Many successor trustees …
Can a Successor Trustee Change or Amend a Trust? Read More »
Contesting a will means to legally challenge the legitimacy of a will in probate court. How to win a will contest in Los Angeles is another matter. We understand that when a family member or loved one passes away, the pain of that loss can be magnified if uncertainty exists as to how they truly …