If you have reason to suspect that the trustee of a trust in San Diego is engaged in wrongdoing and you have an interest in the trust property, requesting a bond can provide some protection. A beneficiary can petition the Court to order the Trustee produce a bond. The bond serves as a safeguard. If the trustee engages in wrongdoing, the bonding company will pay the costs.
When assets are held in trust to avoid a creditor, it may deemed fraudulent under certain circumstances. This may include when the debtor was found insolvent.
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.
The trustee of a special needs trust must be careful when making distributions. If not, the beneficiary’s ability to receive benefits could be impacted.
As the trustee of a trust, it is your responsibility to identify the trust’s assets. To do so, you should have certain types of documentations on hand.
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.
At times during a trust administration in San Diego, the assets of the trust may dwindle to the point where there is very little left. Trust administration also involves certain costs, which means that continuing to administer the trust may not make financial sense.
The normal rule, under the California probate code, is that you inherit a house with the loan, unless the decedent left a will in which he or she specifically stated otherwise. Click here to learn more.