Whether you can sell stocks in a trust after death generally depends on the specific terms and conditions of the trust and the laws of the jurisdiction in which the trust was established. If the trust agreement allows for the sale of stocks, the trustee can sell the stocks as directed by the trust agreement. …
If you have a valid legal claim against a deceased person, you may still be able to receive compensation by filing a lawsuit against the deceased person’s estate. However, you will typically need to direct your efforts at the estate rather than the individual heirs. Under California Probate Code §9050 and §9051, the personal representative …
A trustee is a fiduciary, which means that they have a legal duty to act in the best interests of the trust’s beneficiaries. A “breach of trust” occurs when a trustee violates their fiduciary duties. In general, trustees have a duty to act in the best interests of the beneficiaries, to manage the trust property …
A fiduciary duty is a legal obligation that one party has to another to act in their best interests. This duty is typically seen in relationships where there is a power imbalance, such as between the trustee and beneficiaries of a trust or an executor and the beneficiaries of an estate. When acting as a …
If you believe your inheritance has been stolen, the first step is to contact an experienced probate litigation attorney. They can help you understand your legal options and what type of proof you will need to recover your stolen inheritance successfully. The steps you will need to take to address the theft depend on how …
Tortious interference is when a third party to a contract intentionally acts to harm the financial potential of the relationship. While it is usually associated with business contracts, wills and trusts can be subject to tortious interference in Florida. An inheritance can be a significant financial event in your life. If someone improperly interfered to …
A breach of fiduciary duty occurs when a “fiduciary,” such as the personal representative of an estate, a trustee, or a guardian, fails to comply with the duties created by the nature of their relationship with another person. A fiduciary relationship exists whenever one person places confidence and trust in and is at some level …
A Lady Bird Deed, also known as an enhanced life estate, is a type of real property interest. It grants ownership rights to one person ( the “life tenant”) during their lifetime and confers a future interest in the property to another person (the “remainderman”). A traditional life estate cannot be revoked or otherwise changed …
A dynasty trust is a type of irrevocable trust that can be used to pass wealth from generation to generation. Its primary purpose is to minimize taxes. While the property remains in trust, it is not subject to estate, gift, or generation-skipping transfer (GST) taxes. The person who initially creates the trust, who is known …
When you purchase life insurance, you may designate a beneficiary to receive the proceeds upon your death. You can name a single beneficiary if you choose to do so. However, it is advisable to name a primary beneficiary and then one or more “contingent” beneficiaries to receive the proceeds from your life insurance policy if …
Inheriting real estate with other people can be challenging, particularly when one of the beneficiaries is living in the house. This scenario commonly occurs when siblings jointly inherit their parent’s home, which can lead to increased family tensions during an already emotional time. It is always preferable for siblings to work out an arrangement that …
What Happens When a Beneficiary Is Living In an Inherited House? Read More »
When a beneficiary or heir is either left out of a probate petition or believes they should be entitled to receive some benefit from an estate, they can file a Petition for Determination of Descent and request that the court issue an order that they are entitled to receive a distribution from the estate. California …
What Is a Petition for Determination of Descent? Read More »