When you are concerned with the safekeeping of the assets of a California trust, every day that goes by could mean the difference between losing and receiving your inheritance. While turning to the San Diego probate court for your trust litigation matter is the right approach, the process can be time consuming. Fortunately, there are procedures in place that can help protect the assets of the trust in these types of situations. One such option is to request that the trustee be bonded.
An overview of bonding a trustee:
- A bond will not freeze the assets of a trust.
- A bond will provide some measure of protection for beneficiaries, however.
- The bonding company is then able to go after the trustee for reimbursement if it so chooses.
- A bond is similar to an insurance company. The bonding company will pay for the wrongful acts of the trustee.
- A court may order a bond even if a trust instrument specifically waives it. The San Diego probate court may order a bond when it is concerned with protecting the beneficiary.
In order to receive payment from the bonding company, you have to prove the trustee breached their duties in trial. To learn more about breach of trust in California, click here. For more information about your trust matter, consult with an experienced San Diego probate court litigation attorney. Call the Grossman Law Firm today at (888) 443-6590 for a consultation.
AttorneyThe Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307