Did you realize that when you are given a gift under a Trust it comes with a string attached? Not just a little string either, but a big, giant rope tied securely around it. That rope is your Trustee. It can be a lifeline, or it can be noose. It all depends on the Trustee. […]
How Do You Divide Trust Assets Among the Trust Beneficiaries? When a Trust holds assets other than money, it can be difficult to divide the assets among the beneficiaries. For example, let’s say a Trust owns two houses; one is worth $500,000, and the other is worth $1 million. There are two beneficiaries and they […]
Welcome. I have to share some horror stories. Today, we’re talking about every beneficiary’s worst nightmare. That is dealing with a trustee who refuses to do the right thing. Trustee not paying beneficiaries A trustee can refuse to pay a beneficiary if the trust allows them to do so. They may be able to pursue a lawsuit […]
When you have a trustee who’s also a beneficiary, there’s an inherent potential conflict of interest. A trustee is a person who’s going to make all of the management decisions for the Trust. For example, the trustee may decide to sell an asset or to keep an asset, but that decision will have an effect […]
If you look at a Trust document created by a husband and wife, you will often see there are various sub-Trusts created after the first spouse dies. The purpose of these sub-Trusts is to divide up the assets, sometimes for tax purposes and sometimes for protection purposes. For example, when families have children from different […]
There are times when beneficiaries say that their trustee is claiming that the beneficiaries are harassing them. Whether it is harassment really depends on what the beneficiary is doing. If the beneficiary is asking for reasonable information such as accounting information and copies of trust financial records, none of that is harassment. Still, I’ve seen trustees […]
Albertson & Davidson is proud to sponsor West Covina Youth Soccer. Their recreational program is opened to all new and experienced players in West Covina, California. All children born in 2003-2017 are eligible to participate in their league. For more information, you may visit their website here.
In our latest post on Trust uses and abuses, we are back discussing The Have’s. These are people named in a Trust document receive a gift, but who can’t seem to get it. Many Have’s know they are entitled to a portion of the Trust because they are named in the document. They are either […]
If you have been disinherited from a Trust, meaning you were named to receive a gift and then a new document removed you from the Trust, you are a “Have Not.” Have Not’s are typically children who were part of a long-standing Trust until either an amendment or a new Trust came along excluding them […]
The Have’s are the people named in a Trust document to receive a gift of some type, but they are not receiving it because they are facing a bad Trustee who is not treating the beneficiaries equally, not making required distributions, not giving you information, and using the trust money to hire lawyers to defend […]
