If you are considering setting up a trust, or you are the beneficiary of a trust, it is important to understand the role of the trustee. The trustee is the individual or institution that holds and manages the assets of the trust. The main duties that a California trustee must perform are below: Duty to […]
As a beneficiary of a trust in California, you may have the right to file suit against your trustee if they fail to properly manage the trust. These lawsuits are often complex and require extensive legal knowledge, but understanding the types of claims available can help you determine if you have a potential case. Here’s an overview of the types […]
Administering a trust in California consists of multiple steps that can take months, or even years (depending on the nature and complexity of the trust assets). Here is what you can expect with obtaining financial information to determine the value of your share of trust assets, and how long it may take to finally receive […]
One of the primary ways wealth is built in our society is for one generation to pass on money and property to the next. A stolen inheritance can jeopardize your financial future and possibly your children’s future. In the event that someone misappropriated money or other assets you expected to inherit, legal actions can be […]
We’re Still in Business – Taking Calls and Emails Daily Albertson & Davidson, LLP is still operational and able to take your calls and respond to your emails. Our world has largely transitioned to video conferencing using Teams or Zoom. We conduct a majority of our client meeting using video conferencing. We are able to […]
Every Trust has written direction to the Trustee that sets forth how the Trust assets must be distributed to the Trust beneficiaries. Sometimes the assets are set to pass “outright and free of trust.” That just means the beneficiaries receive the assets in their own name. For example, if the Trust has 100 shares of […]
Setting up a trust for your children is an efficient way to transfer family wealth to the next generation in keeping with your wishes and to enable your family to avoid the California probate process after your death. A trust also may convey money to charities or colleges and universities that you support. Trust funds can […]
In our modern age, texts and emails can be a benefit or a huge detriment to your Trust litigation case. There are times when the written word will back up your story, and then there are times when we send texts or emails that don’t look so good in the light of day. We’ve all […]
A person named an executor of a will in California has a big responsibility. An executor is a person appointed in a will to manage the property and the administration of a deceased person. California law imposes strict guidelines on an executor’s privileges and duties. Sometimes an executor (also known as a “fiduciary”) will ignore […]
Many California residents establish charitable trusts as part of their estate plans. A charitable trust allows them to enjoy a reliable income stream while donating or designating assets to tax-exempt charitable organizations and thereby reaping tax-advantaged benefits. Trustees are accountable for how they manage charitable remainder trusts and other charitable trusts, which are generally irrevocable. […]
