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...
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...
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...
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...
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...
