There will be times when a trustee will be managing a trust and they’ll come across a trust asset that simply isn’t worth anything. It could be an interest in a partnership that has gone defunct and is no longer in business. It could be a lot of land out in the middle of the desert […]
In most cases, if a trust has bills that it has to pay or debts that have to be paid off, those things will be paid out of the trust estate by the trustee. One of the trustee’s jobs is to pay for all the expenses and debts of the trust estate. Trust Beneficiaries Do […]
In some instances, a trust document will give a beneficiary the power to remove the trustee. The first thing you should do is take a look at your trust document. Look through the trustee provision and see if there is a provision for removing the trustee. A removal provision would say something to the effect that you, as the […]
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, it depends on the facts and circumstances in the […]
Albertson & Davidson’s Beneficiary’s Corner California’s Will & Trust Lawyers have created the Beneficiary’s Corner for those wanting to learn more about inheriting an asset, a property, or a lump sum of money. Albertson and Davidson have created the Beneficiary’s Corner for abused beneficiaries, so they can better understand their rights regarding, California Trust and […]
You may find this surprising, but in California, children do not have an automatic right to inherit their parents’ assets. And you’re not alone – a lot of people are surprised about that. They’ll call up our office saying a bad actor changed the Will or the Trust and somebody else is getting the assets, […]
There’s a difference between the lawyer who represents the Trust that you’re a Beneficiary of and the lawyer that represents Beneficiaries. A very big difference. And the reason there is sometimes confusion is because somebody becomes the Beneficiary of their parents’ Trust and they believe they can call the attorney who’s handling the Trust Administration […]
Should a Trustee have one or two attorneys that represents them in a litigated trust matter? Let me give an example. You have a Trustee after Mom and Dad have passed away and the Trustee is administering the Trust as the Trust terms state. But, maybe the Trustee’s brother and sister don’t agree with the things that […]
In California, most of our Trust laws, the laws that apply to Trustees, to Trust Administration, and to the distribution of assets to Beneficiaries, can be found in the California Probate Code. You can find the California Probate Code by going online and searching Google for California Probate Code. One of the websites you’ll find is […]
There are two different types of lawsuits that Trustees have to worry about. One is a lawsuit from an outside party. That’s the type of lawsuit that can potentially be filed against anyone. For example, if a real estate transaction goes bad, someone may want to sue the Trust and the Trustee. With that type […]
