Beneficiaries are supposed to receive reasonable information and timely distributions of their share of the Trust money and property. Unfortunately, many beneficiaries are kept in the dark and receive no Trust distributions. In other words, they receive no money and no information. It can be hard to know what to do when you are kept […]
There are many examples of bad Trustees either failing or refusing to keep the Trust beneficiaries reasonably informed. Under Probate Code section 16060, the Trustee has a duty to keep the beneficiaries reasonably informed of the Trust and its administration. Further, under section 16060.7, the Trustee has a duty to provide the terms of the Trust to […]
In California, Trustees can also be beneficiaries of a Trust. Even if the Trust has multiple beneficiaries. That means one person can be both the Trust manager (Trustee) and benefit from the Trust (beneficiary). You may ask ‘isn’t this a conflict of interest?’ Maybe yes and maybe no. Anytime one person is acting as both […]
If you are an occupant of a property owned by a trust, here is what you should know. The trustee is the legal owner of the trust property and may have the right to evict you, even if you are beneficiary. The first thing you should do is ask the trustee for a copy of […]
Are you entitled to an inheritance under a trust, but the person in charge is mistreating you? Here are some of the ways trustees mistreat beneficiaries: Refusing to provide information Unreasonably withholding distributions Ignoring communication with the beneficiaries Exercising favoritism Misappropriating trust assets Failing to comply with trust terms Self-dealing or stealing trust assets Living […]
You Think you are Entitled to an Inheritance Under a Trust, but the Person in Charge Wont Hand it Over. Receiving an inheritance should be easy… right? If you have a good trustee, yes. If you have a bad trustee, obtaining your inheritance may involve some work. The first step is to ask the trustee […]
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 […]
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. […]
A trustee may ask a beneficiary to sign a piece of paper indemnifying the trustee prior to making a distribution of trust assets. First, let’s talk about what indemnification means? Indemnification is a legal term. It literally means that one person is going to pay for any loss or harm suffered by another person. What […]
There are times when a trustee is approached by one of the trust beneficiaries and the trust beneficiary says, “Hey, I really like the cabin in Big Bear. I’d like to buy the cabin in Big Bear. Can you sell it to me?” And the trustee’s response should be, “It depends on how other trust beneficiaries […]
