An irrevocable trust is a legal arrangement where the person creating the trust (called the settlor) permanently transfers assets and gives up the right to modify or terminate the trust. Once created, you typically can't change or cancel it. But life changes, and...
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Trust Administration
Can you sue an executor or trustee in California?
When someone mishandles your loved one's estate or trust in California, you have legal options to protect your rights. Money and family often create tension, but the law offers clear paths when executors or trustees fail to do their jobs properly. Who manages...
What happens when a trustee becomes incompetent?
In California, if a trustee becomes incompetent and is unable to manage the trust effectively, there are legal mechanisms in place to address the situation. Here’s a general overview of what might happen: Determination of incompetence The first step is to legally...
Keeping an outdated trust can cost you more
Is your trust up to date? Many people create trusts and forget about them. While they are an incredibly powerful estate planning tool, trusts need regular maintenance to remain effective. Circumstances can change over time, and your outdated trust may no longer...
Can a trust outgrow its usefulness?
When you set up a trust, you likely want to have some control over what happens to the money. Instead of just passing that money on to the next generation through your will, you are going to fund the trust in advance. This way you can choose a specific purpose for it....
Do you have grounds to remove a trustee?
If you decide to add a trust to your estate plan, you need to take time to find the right person to name as your trustee. A trustee has complete control of the trust and the assets it holds. Because of this, you want someone who is financially intelligent, has a basic...
Protecting yourself before you sell assets for the trust
If you are a trustee or the executor of an estate, selling property may be among the tasks you will have to complete. You have an obligation to the beneficiaries of the trust or the estate to maximize what they will receive after a loved one's death. Failing to...
2 reasons why you need to include a trust in your estate plan
A trust is an important estate planning tool. And you do not need to be super rich and famous to have one. On a basic level, a trust is a legal arrangement that allows you (the Settlor) to transfer the legal control of specific assets to another person or entity...
How should a trustee handle complaints by a trust beneficiary?
Serving as a trustee can be a thankless job. Even if the trust compensates you for your time, you will likely put in a lot of work that you don't charge for, to say nothing of the stress you endure in your personal time or the impact your responsibilities may have on...
Do California trusts have an expiration date?
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...