Trust Administration

If you look at a Trust document created by a husband and wife, you will often see there are various sub-Trusts created after the first spouse dies. The purpose of these sub-Trusts is to divide up the assets, sometimes for tax purposes and sometimes for protection purposes. For example, when…

If you are filing a lawsuit pertaining to an inheritance under a Trust or Will in California there are deadlines that must be followed. These deadlines are called statutes of limitation. A statute is a written law passed by the legislature. A statute of limitations is a law prescribing a…

How long should you wait for a Trust accounting? After the Trust creators (also called “Settlors”) pass away, beneficiaries can expect to wait between six months to one year for an accounting from the Trustee. The time frame depends on the nature of the assets and the terms of the…

Some Trustees ask beneficiaries to sign a waiver of accounting before making Trust distributions. Occasionally, if there are multiple beneficiaries, some of the beneficiaries may be happy to waive a formal accounting, while one beneficiary refuses. What happens if one of the beneficiaries refuses to sign a waiver of accounting?…

When a Trust is created, the Trust creator (the “Grantor” or “Settlor”) needs to transfer all property into the name of the Trust. For example, if the grantor owns a house, the grantor must record a deed transferring legal ownership of the house into the Trust. What if the Trust…

What do you do when a trustee refuses to give you the financial documents you are entitled to as a beneficiary? Isn’t the trustee required to give you financial information? The answer is simple: YES. The trustee has a duty to keep beneficiaries reasonably informed about the trust administration and…

You’re entitled to a distribution and you should receive it within a reasonable time. Typically, trust beneficiaries expect to receive their inheritance in a year or less, depending on the complexities of the estate. What happens when your Trustee won’t follow the terms of the Trust? Why aren’t they following…

Are you having a hard time receiving your inheritance? You are a named beneficiary of a trust and you are entitled to an inheritance. You should just be handed your share of the money… right?  Yet a year has passed, maybe several… and you still have not received your inheritance….

Formal accountings can take up a lot of your time. When we say “formal accounting” we are referring to a Trust accounting that is prepared according to the format rules of the Probate Code (section 1060) and filed with the court to court approval. Why do formal accountings take so…

Sometimes Trustees refuse to provide beneficiaries with financial information. We can help. Before you demand a formal accounting in court, you may want to try requesting an accounting informally. You can use our ACCOUNTING DEMAND TEMPLATE and view the video instructions below. If you send an accounting demand letter and…