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Blog Posts About Trustee Surcharge

1. Follow Trust Terms The Trustee has a duty to follow the Trust terms. In other words, do as they’re told. May sound obvious, but it’s remarkable how often Trustees seem to get that one wrong. It is a basic Trustee duty that can be found at California Probate Code…

Bad Trustees can make your life a nightmare. When you are the beneficiary of a Trust, you really want a competent Trustee. They don’t have to be the best necessarily, but they do need to be competent, at least. The problem is that parents, the people who create Trusts, often…

You know what needs to be done. A house needs to be sold, a stock portfolio needs to be split and distributed to the named beneficiaries, and a cash account needs to be divided, too. Properly handling a Trust administration is not rocket science. But it does take someone reasonably…

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…

We get this question routinely.  We have Beneficiaries of a Trust come to us and say, “My brother or sister is the Trustee of the Trust and they’re saying they’re going to take $150,000 in Trustee’s fees.  Is that allowed?”  And the answer is, “Well, it depends.”  And, of course,…

There are times when you know something has gone wrong with your Trust administration. Perhaps the Trustee is not making proper Trust investments, is not managing Trust assets properly, or is outright stealing from the Trust. At times, the harm caused by a Trustee can be less obvious, such as…