One of the most frustrating things we hear from beneficiaries of trusts is hey, I’m a beneficiary, I’ve reached out to the trustee and they refuse to tell me anything. In fact, they’re just downright hostile to me. They won’t return my phone calls. They say everything must be done by letters. I send them […]
Are you entitled to a copy of your Mom’s or your Dad’s trust? This question really comes in two variations. The first situation is one in which both Mom and Dad have passed away, and an older brother or sister is the trustee and refuses to provide you with a copy of the trust. Under […]
Marital rights involving gifts of trust assets or gifts of marital assets can get a bit tricky. California is a community property state. By definition, anything you acquire during your marriage – meaning if you and your spouse buy a house— the presumption is that that house is community property. Each spouse has the right […]
What does it take to qualify as a beneficiary? If you have been named as a beneficiary in a trust or will in California, and you’re supposed to receive a gift out of that trust or will, it really doesn’t take much to qualify to be a beneficiary. Once you are named as a beneficiary, […]
Generally speaking, there are two different ways that assets can pass down to your kids and grandkids. It depends on the distribution formula selected—whether the assets are going to pass Per Stirpes or Per Capita. These are very old-fashioned terms, but we still use these concepts, even today. Per Stirpes Distribution Per Stirpes is a way of transferring assets […]
Let’s say that you find out that you’re a beneficiary of a $3 million trust. There are three beneficiaries. You’re supposed to get a million dollars at the end of this. It’s a very happy, exciting day for you. You call the trustee’s attorney, and you say to the trustee’s attorney, “Hey, I have some questions for […]
Let’s say that you just found out that you’re the beneficiary of a $3 million trust fund, and there are a total of three beneficiaries. Each beneficiary stands to receive $1 million dollars. That is an exciting day that doesn’t happen to many people. You wonder when you are going to receive the $1 million. […]
What is an heir-at-law? What does that term mean in California under the California Probate Code? When people die intestate, meaning they die without a will or a trust, their assets pass to their heirs. There are other instances where we might use the term “heir.” For example, oftentimes, we’ll say “all heirs at law […]
What happens when a Beneficiary Kills the Trust Creator, the Settlor? As you can imagine, that’s not a good thing. So you shouldn’t go around killing people. I shouldn’t have to tell you that. However, if you have a beneficiary who is found to have murdered the settlor, under California law, they are precluded from […]
From time to time, beneficiaries ask: What is my job as a beneficiary to get my beneficial interest under the trust? A distribution under the trust, in other words. The answer is that the beneficiary really doesn’t have a job. The beneficiary owes no duties to the trust, under law, or under the trust terms, […]
