How do you handle bad trustees? We do many, many consults with clients where they come in and say: “I’m the beneficiary of a trust, I have a right to these assets, and the trustee’s refusing to distribute those assets to me; what am I to do?” Many people think that we, as lawyers, can […]
If a Trustee commits a breach of Trust, or threatens to do so, California law allows a beneficiary or a co-Trustee to take action. What action can you take? That depends on the type of breach committed. Under Probate Code section 16420, the court is authorized to take the following actions: Compel the Trustee to perform his […]
Does a beneficiary have to sign a release? Under Probate Code section 16004.5, a Trustee cannot require a beneficiary to sign a release in exchange for making a distribution of Trust assets, provided that the Trust distribution is required to be made as stated in the Trust document. For example, if you are entitled to […]
If you have a bad Trustee who mismanaged assets, misappropriated them, or just stole them, you may be wondering how to find the money. That is a good question, and not always easy to answer. Of course, much depends on how the money was taken, or whether the money was ever part of the Trust to begin […]
There are a few exceptions to a Trustee’s duty to provide you with a Trust accounting no matter what type of beneficiary you happen to be. Where the Trust Document Waives an Accounting. If the Trust document waives an accounting, then a Trustee does not have to provide an accounting. This is an important exception, so […]
You are entitled to an accounting…maybe…depends. The truth is some beneficiaries are entitled to an accounting as a matter of right, while other beneficiaries may obtain an accounting at the discretion of the Court, but not as a matter of right. Right to Reasonable Information For starters, all beneficiaries are entitled to reasonable information from the […]
Being named a successor Trustee does not necessarily obligate you to take action. While it is true that Trustees have a host of duties and responsibilities, those duties don’t arise until a Trustee agrees to act. Being named a successor Trustee in a Trust document does not obligate that person to act. If, however, the successor Trustee either […]
Unique Nature of Trust Ownership It all comes down to the unique nature of Trusts. When a person creates a Trust they are effectively separating the legal ownership from the beneficial ownership of the assets. We don’t usually think about these two different aspects of ownership because, in every other context, they are one in the […]
This is it! Our finale Trust and Will myth, and it may be the biggest, most damaging, myth of them all. Can you be disinherited for challenging the Trustee’s management decisions? Watch this video to find out more.
Will your Trustee be subject to criminal prosecution for failing to follow the Trust terms or Trust law? Probably not, but then again…. In this video we discuss whether the actions of your Trustee are criminal.
