7 Factors for Making Discretionary Distributions of a California Trust
Scott Grossman is certified by the State Bar of California Board of Legal Specialization as a specialist in Estate Planning, Trust, and Probate Law. He represents clients in cases throughout California.
When acting as trustee of a trust, you are agreeing to carry out the wishes of the creator of the trust. Unfortunately, sometimes the trust grants a great deal of discretion to the trustee with regard to distributions. The advantage of this is that this type of provision allows for flexibility in administering the trust. However, some trustees may feel overwhelmed by the prospect of having to make decisions about the distribution of trust property. If you are the trustee of a California trust, seek out the assistance of an experienced San Diego trust attorney. They will be able to guide you when making discretionary distributions of a California trust
he trust document may grant you total or limited discretion with regard to the trust property, there are several factors that you may take into consideration when making discretionary distributions of a California trust.
Factors to Consider When Making Discretionary Distributions of a California Trust:
- First of all, the language contained in the trust document relating to the distribution.
- Also, the purpose of the trust.
- In addition to the purpose of the trust, any outside resources available to the beneficiary, such as substantial assets of his or her own.
- Furthermore, the wishes of the creator of the trust, such as whether the creator wanted to maintain a certain lifestyle for the beneficiary or whether he or she was more concerned with preserving the principal of the trust property.
- The age of the beneficiary.
- Additionally, the specific needs of the beneficiary.
- Lastly, the type of assets left in the trust.
For more information about making distributions and administering trusts in California, view our free guide The Insider’s Guide to California Probate and Trust Administration. Contact an experienced Riverside trust attorney for guidance through the trust administration process or if you have any questions about making discretionary distributions of a California trust. Call our toll free number today at (888) 443-6590. Or fill out our quick and easy online form today.