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.
Some trusts have language that specifically waives the requirement that a trustee obtain a bond when administering the trust. However, a court can still order the bond if it is necessary in order to protect the beneficiaries.
The following is an overview of the pros and cons of requesting a bond:
- A bond provides a resource that beneficiaries can look to if the trustee commits any breach of his or her duties.
- Beneficiaries must prove that the trustee breached his or her duties before the bond company is required to pay anything.
- In order to prove that the trustee breached a duty, you will have to go through a trial. An experienced California trust litigation lawyer can assist you in filing a lawsuit.
- The bond company has the right to hire its own lawyer to defend the trustee at trial since it has a vested interest in the trustee winning the case.
Requesting a bond is the right solution in some instances of trustee wrongdoing. To help make this decision, choose the right attorney to represent you. Our article, Five Questions to Ask Before Hiring a Trust and Probate Litigation Attorney, offers helpful tips for interviewing potential lawyers. Further, our free guide, The Ultimate Guide to California Trust and Probate Litigation, provides an overview of what to expect if you engage in a lawsuit against a trustee. To learn more, contact an experienced San Diego probate litigation attorney today. Call our toll-free number at (888) 443-6590.
A safe guard for the Beneficiaries or Heirs of an Estate from any wrongdoing by the Administrator or Executor that must be in place before the Court grants authority to act on behalf of the Estate. This is similar to an insurance policy, and once the Estate closes the Administrator or Executor may Petition the Court for reimbursement for the premium on the Bond.
A person who benefits from a trust, will, or life insurance policy. This includes heir, heiress, inheritor, legatee; recipient, receiver, payee, donee, assignee; devisee, grantee.
AttorneyThe Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307