Beneficiaries of trusts may be concerned when a trustee delays selling an asset that should be sold. It is important to act quickly to prevent further harm.
Articles about Breach of Duty
A power of attorney is a common document used in an estate plan. Unfortunately, there are several reasons why this document may be used for financial abuse.
If your loved one created a trust, but has since become mentally incompetent, act quickly. Failing to do so could substantially harm the trust.
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.
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.
For those beneficiaries and heirs unfamiliar with the California estate administration process, it is not always clear whether the executor or trustee is acting properly and in accordance with state law.
If the attorney who drafted a will or trust named himself or herself as the executor or trustee, am I required to use this attorneys services?
You are not required to use drafting attorney services as executor or trustee, and you may not be required to use their services at all.