Ask for Blocked Accounts when beginning Trust Litigation
If you are faced with a pending trust litigation matter, time is often of the essence. For example, your matter may involve the trustee’s misuse or abuse of trust funds. Under these circumstances, every day that is lost could result in further wasting of trust assets, ultimately reducing the inheritance that is rightfully yours. Fortunately, the California Probate Court offers options such as Blocked Accounts.
One such option is to file a Petition for Instructions and Blocked Accounts. The following is an overview of this option:
- A blocked account is a bank account that is set up by a trustee.
- The funds of the trust are then placed into that account.
- Funds held in a blocked account cannot be withdrawn, transferred, or otherwise used without a San Diego probate court order authorizing the action.
- The blocked account allows the beneficiary to freeze the trust assets pending resolution of the issues with the trustee.
Obtaining court intervention is vital when you are concerned with the trustee misusing trust assets. It is important to note that successfully petitioning the court for a blocked account requires a carefully prepared filing.
If you are ready to start your case, then please give us a call or fill out our Get Help Now form. If you want a comprehensive overview of California Probate, then click here. Should you have additional questions about trust litigation, then you will find plenty of useful information in our Learning Center.