If a trust is being administered in California, then the trustee has a duty to administer the trust according to the terms of the trust.
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Under California trust law, trustees have an obligation to fulfill certain duties. In 1995, California adopted its own version of the Uniform Prudent Investor Act, imposing a prudent investor rule. Learn more here.
As a successor trustee, your duties begin if the current trustee is mentally incompetent. It is important to act quickly to protect the trust assets.
An important duty of a trustee is to identify the trust assets. Doing so is not always as easy as it may seem at first.
This article explains the difficulty of winning a trust litigation case when the testator made a foolish mistake before passing away. If you need help, contact us today.
When appointed trustee of a trust, it is important to know what type of trust. Different types of trusts have different characteristics.
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