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Twelve Issues to Be Wary of During a California Trust Administration

First of all, administering a trust in San Diego can sometimes feel like navigating a minefield. While the executor is just waiting for one of the beneficiaries to file a suit. Unfortunately, disputes surrounding a California trust administration will lengthen the time and expense needed to wrap up the estate. This reduces the ultimate inheritance that the beneficiaries will receive. If you were appointed as a trustee of a trust, contact an experienced San Diego trust lawyer for guidance.

Examples of the types of issues that can come up during a California trust administration include the following:

  1. Distributions to beneficiaries
  2. Allocations of trust property between beneficiaries
  3. Investment choices
  4. Determining which assets are held in the trust
  5. Preparation of accountings
  6. Asset valuation
  7. Allocating income, expenses, and taxes between income and principal
  8. Self-dealing of a trustee
  9. Trustee’s right to compensation
  10. Trustee’s right to hire assistance, such as a CPA, financial advisor, and attorney
  11. Interpretation of various trust provisions or of the grantor’s intent
  12. Modification or revocation of the trust to be more in line with the intent of the grantor

Attempting to avoid conflict connected with the above issues in trust administration, can go a long way in preventing a lawsuit. In addition to staying aware of the list, our article, Administering an Estate in California: 10 Important Tasks, offers more information about the responsibilities that go along with a trust administration.

Finally, administering a trust can be a complex process. Trying to go through this process without the help of a professional could result in problems down the road. Our free guide, The Insider’s Guide to California Probate and Trust Administration, offers additional information about the trust administration process. For further guidance, contact an experienced San Diego probate lawyer today. Call the Grossman Law Firm at (888) 443-6590.

 
Scott Grossman

Scott Grossman

Attorney

The Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307
 

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