The duties of a personal representative in California are many. Unfortunately, the failure to properly carry out these responsibilities could potentially result in liability on the part of the personal representative. Personal representatives must be extra cautious where there is a dispute among the beneficiaries or creditors.
Articles about Beneficiary Rights
During the probate of an estate, interested parties can petition the court to revoke the will. Minors are given a longer opportunity to initiate this action.
The way to administer a trust depends largely on the type of trust you are working with. Pooled trusts are a type of special needs trust with unique features.
Conflicts sometimes arise between beneficiaries and trustees during special needs trust administration. Fortunately, there are options for finding resolution.
Under California trust law, trustees have a fiduciary duty to act in good faith with respect to the management of trust assets. When a trustee misappropriates funds from the trust for his or her own benefit or the benefit of another, he or she is committing theft.
I am the trustee of a San Diego trust. Can I delegate my trust investment and management responsibilities?
One part of serving as a trustee of a California trust is managing and investing the assets of the trust. For individuals appointed as trustee who do not have a background in finance or investment management, this responsibility may feel overwhelming.
I am the trustee of a California trust, and I am instructed to make discretionary distributions. What should I do?
Often times, a trust will leave property to an individual or a group of individuals, but it will instruct the trustee to decide when the distributions should be made and how much they should be for.
It is Possible for an Attorney to Serve as as a Trustee while also Providing the Trust with Legal Services?
Under certain circumstances, an attorney can serve as both the legal advisor and trustee of a California trust. However, the attorney must enter into both roles with a great deal of caution. If the attorney does not act fairly or follow the California trustee rules relating to compensation, he or she could be subject to litigation brought by a beneficiary.