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.
Articles about Fiduciary Change
When a trustee mismanages assets or refuses to comply with trust terms, beneficiaries have several options. Consider asking the court to remove the trustee.
If a de facto trustee in California takes a trustee’s fee from a trust, does it violate California trust law?
Whether or not a person rightfully took trustee’s fees from a California trust depends on the terms of the trust instrument and whether or not the person was a named trustee in the document, a de facto trustee, or a trustee de son tort.
During a trust administration, it is possible that a trustee could pass away. In these cases, a successor may be appointed depending on the circumstances.
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.
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.
During the trust administration process, you may find that you need assistance. Some trusts allow you to appoint a professional or independent co-trustee.