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 […]
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 […]
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 […]
Once in a while, we do see trustees giving away money from a trust to people who aren’t actually named beneficiaries of the trust. To this day, I have no idea why they do it. Misappropriation of Trust Funds by Trustee The situations in which we normally see this is when the trustee is a […]
Ok, so you’re a beneficiary and you just did a title search on the asset that’s in the trust and you find that it’s in the name of the trustee, who is your older brother perhaps. And you say, “Wait a minute. Why is the title to the trust asset in my older brother’s name? Isn’t that […]
Who should you choose to be the trustee of your trust? It’s an important question and most people don’t spend a lot of time thinking about. When I used to do estate planning, my clients would say to me, well who should have I be the trustee of my trust? And we would just pick one […]
I want to address professional trustee’s fees. These are different than lay trustee fees. A lay trustee is a brother or sister or somebody else in the family that is named trustee. A professional trustee is generally a large bank, or it’s a large company that holds themselves out as professional trustees. The question is, […]
Beneficiaries often contact our firm and say that they want a trust accounting. An accounting is a great way to get informed about the trust administration. But not every situation calls for a full-blown accounting. A full formal trust accounting, is a very involved process. There’s a lot that goes into a proper accounting. And, typically, you have to […]
