Parents do not have to treat children equally in estate planning documents (Wills and Trusts). Under California Trust and Estate law, creators of a Will or Trust may leave their assets to whoever they wish, including non-family members. There is no requirement that parents provide equal treatment to their children under a Trust or Will. […]
If you want to understand Trusts, you need to have a solid grasp on the terminology. One of the first things a person needs to understand about Trusts is the difference between a Trustee and a Trust beneficiary. When a Trust is created, it becomes its own legal entity. A Trust can only operate through […]
When the time comes to distribute assets to Trust beneficiaries, there are a number of ways to do so. When a Trust consists solely of cash, then the distribution is easy. The Trustee can write a few checks, make the Trust distribution, and end the Trust administration. How to Distribute Trust Assets to Beneficiaries Outright […]
An irrevocable trust is a type of trust that is permanent meaning it cannot be changed once created. It is designed to give the grantor/settlor the ability to lower their estate taxable rate while giving to charity, heirs, and beneficiaries. Can a beneficiary be removed from a California irrevocable trust? California Probate Code §16060 protects the Beneficiary rights in […]
There are times when you know something has gone wrong with your Trust administration. Perhaps the Trustee is not making proper Trust investments, is not managing Trust assets properly, or is outright stealing from the Trust. At times, the harm caused by a Trustee can be less obvious, such as living in a home owned by […]
If you are a Trustee beneficiary who is having problems with your Trustee, you need to file for help in the probate court. To file, you bring a petition under section 17200, which gives the court the power to issue orders regarding the internal affairs of the Trust. Section 17200 provides a long list of […]
Trustees and executors share some similarities. They are both fiduciaries. A fiduciary is someone who is put in charge of someone else’s money. A Trustee is a fiduciary over a Trust, and an Executor is a fiduciary over a probate estate. The Role of a Trustee in California The role of a trustee may be […]
If your Trust requires a distribution to you, and you’re not receiving it, you may be wondering “how long will this take?” Unfortunately, there are times when a Trust distribution takes much longer than it should to be made. Timeliness is Important As with all things involving a Trustee’s actions, Trust distributions are required to […]
How do you handle a bad Trustee who refuses to communicate with you? One of the biggest problems we see for Trust beneficiaries is that their Trustee simply doesn’t communicate with them. The Trustee may not tell you what the assets of the Trust are, may not explain what the investments are, may refuse to talk […]
Somewhere out there is a common misconception that a revocable, living Trust cannot be contested in court. That’s false. You can go to the courthouse in any county in California today and find thousands upon thousands of Trust contest cases. By Trust contest case, we mean a lawsuit to try to invalidate or set aside […]
