Some trustees can be irresponsible or take a personal ownership interest in trust assets. These types of trustees act against the interests of beneficiaries and instead act as though they are doing the beneficiaries favors with limited answers, withholding information. Trustees often ignore beneficiary inquiries, and leave them totally “out of the loop.” They are …
A stale trust is a term which refers to the state of a trust instrument when the trustee disregards the trustee’s fiduciary duties. All trustees must exercise ordinary skill and diligence in their employment and they must strictly comply with the instructions contained in the Declaration of Trust. When they do not, a stale …
Stale Trusts: Trustee’s Disregard of Fiduciary Duties Read More »
Beneficiaries’ Rights Under Wills and Trusts A. Definition of a Beneficiary According to the Restatement (Third) of Trusts (“Restatement 3dâ€), trust beneficiaries are generally defined as persons that are intended to have enforceable rights in trust property and the successors to those persons. Restatement 3d § 48 adds that “[a] person is a beneficiary of …
Contest Of Will: California Probate Code – Section 8250-8254, Article 3. 8250. (a) When a will is contested under Section 8004, the contestant shall file with the court an objection to probate of the will. Thereafter, a summons shall be issued and served, with a copy of the objection, on the persons required by Section …
Contest Of Will: California Probate Code – Section 8250-8254 Read More »
How to Contest a Will in California Wills can be contested for a variety of reasons, the most common of which is for wills that were made fraudulently. Contesting a will is something you can do on your own, but you should enlist the aid of an experienced probate attorney to help you. Not only …
Trust Litigation & California Probate Code A trust avoids probate, but one may contest a trust by filing a petition in California Probate Court. A contested trust case is argued and decided in probate court. If you are faced with a possible trust contest, speak to a trust litigation attorney for advice. Call us, we …
California Probate Code §17200(b)(7) permits a living trust beneficiary to seek a court order requiring the trustee to report and account for his activities with the trust funds. This is the way attorneys compel accounting of trust funds on behalf of beneficiaries. CONTACT San Diego Trusts Attorney (619) 630-7766 Questions? – Please feel free to …
Benefits of Setting Up a Trust Trusts are an important part of your estate plan when you want to leave money to your minor children. Trusts ensure that money, managed by a trustee, is set aside and made available to them when they reach a certain age. Trusts are often complex, time consuming to set …
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The cost of a revocable living trust depends on how valuable and complicated the assets are, how many assets must be transferred to the trust itself , and whether additional tax planning is needed. If you set your trust up so that you are the trustee the costs are less than appointing another as trustee. …