Once an estate is closed, it typically remains that way. In some circumstances, however, the estate may need to be reopened. Learn more here.
Articles about Court Involvement
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.
During some trust or estate administrations, there may be a guardian appointed over the estate of a beneficiary. This guardianship may also come to an end.
When petitioning the court for an oversight of a trust, you need to include certain information in your petition. Learn more here.
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.
The trustee of a trust has a fiduciary duty to act in the best interests of the estate and beneficiaries. As a result, the trust cannot intentionally harm the estate or the beneficiaries. Clearly, if the trustee is stealing from the estate, he or she is breaching fiduciary duty.
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.
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.