When you discover that you are the beneficiary of a trust, you probably have many questions. Generally, people want to know how the document works and whether it contains any special rules beneficiaries must follow. Two other questions we often hear from trust...
Serving as a trustee means that you have a fiduciary duty to the trust itself and its beneficiaries. You need to put the best interests of the people who should benefit from the trust above your own wishes. Sometimes, trust administration involves the sale of trust...
The role of a trustee is one that people often find confusing. A trustee has a fiduciary duty, but it is not to the person who created the trust. Their duty is to the trust itself and its beneficiaries. As the person named as trustee, your job is to manage the assets...
What can you do when your deceased loved one’s trust administrator does not fulfill his or her duties? Can trustees in California be relieved of their trust administration duties? Having problems with a trustee is a classic example highlighting how critical it is to...
There are two main categories of trusts. Revocable and irrevocable. Revocable trusts allow the person that creates it, known as the grantor or settlor, to make changes or cancel the trust. Irrevocable trusts offer certain extra benefits in exchange for sacrificing...
When creating a trust, it's critical to name the right person as your trustee. This is the person who will step in to manage and administer your trust upon your death. If you don't choose a trustworthy and honest individual, it could end up costing your loved ones in...
When an individual in Sacramento passes away, the directions that he or she laid out in his or her estate plan kick into effect. Whether a will, trust or some combination of both is used in an estate plan, the administration of the estate and its trusts can be...
Nobody likes to think of their own mortality. Yet, it is an inevitability for us all. Instead of being afraid to confront this reality, Californians should prepare for it. Not only does this allow one to put his or her mind at ease, but it can also help alleviate any...
A living trust is a trust that a person creates while they are still alive. Unlike other trusts that are created at the time when the estate planner passes on, a living trust is one that is created by the estate planner and then is usually managed by that individual...
To answer the question posed in the title of this post, readers of this California estate planning blog must understand the different roles that individuals may play in the administration of the trust. The following paragraphs will discuss three main roles a person...
