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 […]
If you are filing a lawsuit pertaining to an inheritance under a Trust or Will in California there are deadlines that must be followed. These deadlines are called statutes of limitation. A statute is a written law passed by the legislature. A statute of limitations is a law prescribing a time deadline for bringing each […]
Mediation seems to confuse a lot of people. But really a mediation is just a settlement conference. During mediation, parties in a lawsuit and their attorneys sit down with a neutral third-party mediator. Mediators are usually retired judges. The mediator goes back and forth between the parties and tries to help the parties broker a […]
How long should you wait for a Trust accounting? After the Trust creators (also called “Settlors”) pass away, beneficiaries can expect to wait between six months to one year for an accounting from the Trustee. The time frame depends on the nature of the assets and the terms of the Trust. A Trust accounting is […]
Some Trustees ask beneficiaries to sign a waiver of accounting before making Trust distributions. Occasionally, if there are multiple beneficiaries, some of the beneficiaries may be happy to waive a formal accounting, while one beneficiary refuses. What happens if one of the beneficiaries refuses to sign a waiver of accounting? If one beneficiary refuses to […]
How do you know if you are a beneficiary of a Trust, and how much you are entitled to receive? The only way to know is to review the terms of the Trust document. However, that can be a problem at times when a parent refuses to share Trust document with you. Or worse yet, […]
When a Trust is created, the Trust creator (the “Grantor” or “Settlor”) needs to transfer all property into the name of the Trust. For example, if the grantor owns a house, the grantor must record a deed transferring legal ownership of the house into the Trust. What if the Trust is created but the property […]
Sometimes there is a disconnect between lawyers and clients on how likely they believe the case is to succeed, and the monetary value of the case. Why? Litigants typically don’t think of their case in terms of monetary value. Litigants think of their case as a set of bad, often hurtful facts that led them […]
What do you do when a trustee refuses to give you the financial documents you are entitled to as a beneficiary? Isn’t the trustee required to give you financial information? The answer is simple: YES. The trustee has a duty to keep beneficiaries reasonably informed about the trust administration and assets. If you request financial […]
What happens when you enter into a settlement agreement and the other party refuses to comply with the terms? There are provisions you can put into your settlement agreement to help you enforce that settlement agreement in the future. A settlement agreement is a contract. Contracts are enforceable. Most settlement agreements are solid documents. The […]
