It happens more than you would think: a court preliminarily admits a will for probate before some family members even know it has been filed and before they have had an opportunity to contest it. There are a variety of reasons a will can be contested. Perhaps someone exercised undue influence over your deceased loved …
If you are serving as a trustee of a trust, you have many essential duties to fulfill. One of these responsibilities is to uphold the terms of a trust. Another is to discharge your obligations under the law. If you violate the law or fail to uphold the terms of a trust in any way, …
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 »
While you are not legally required to retain a lawyer to accomplish many of your fiduciary duties as trustee, working with a trust attorney is generally a good idea for professional and family/friend trustees alike, particularly if you have not administered a trust before or you’re unfamiliar with a specific trust or some of its …
A trust is a legal arrangement where one person or entity, known as the “trustee,” holds the title to property and manages it for the benefit of another person or people, known as the “beneficiaries.” When an interested party believes that a trust is legally invalid, they may pursue a legal action called a “trust …
Contesting a will can be hard on all parties involved in the legal battle, but there are cases where it is worth it. However, because it can take months to go through the court processes necessary to successfully challenge a will, there are situations where contesting a will would not be in anyone’s best interest. …
Commingling assets is a common issue we see with our trustee clients, and it’s one that can land you in some serious hot water. While it takes a little extra work and bookkeeping to keep trust funds separate from your personal funds, it’s a trustee’s duty to do so. What are commingled assets? The term …
As a trustee, you can be legally removed if you fail to comply with your duties to the beneficiaries or otherwise mismanage the trust. While some trust instruments may outline a procedure for removing a trustee, beneficiaries can also petition the probate court to do so. Can a trustee be legally removed? Yes, a trustee …
A generation-skipping trust is a type of irrevocable trust agreement that allows grantors to leave their assets to their grandchildren, “skipping” their children. While grandchildren are the most common beneficiaries of generation skipping trusts, anyone who is at least 37½ years younger than the grantor and is not the grantor’s spouse or ex-spouse can be …
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 …
(Scott E. Rahn, RMO Co-Managing Partner, was recently featured in Lawyer Monthly. Here’s an excerpt, below. To read the full article, click here.) Just hearing the word “litigation” can trigger feelings of unease for many, but in reality, trust litigation is just a tool, a formal process through which an heir, beneficiary or fiduciary who …
Trust Litigation: What Does It Entail – Lawyer Monthly Read More »
Sometimes family members have good reason for disinheriting someone. For example, a parent may have already given substantial assets to a spouse, child or grandchild, and feel like they’ve given enough. To ensure their intentions are followed, they disinherit that person. If you feel you were unjustly disinherited, read more. What is the …