How do Trust beneficiaries know how much they are entitled to? Often, rather than stating a specific dollar amount for each beneficiary, the Trust will state that each beneficiary is entitled to a certain percentage of the Trust estate. This can cause frustration if the Trustee will not provide the value of the Trust assets.

Who is liable for Trust debts? Is it the Trustee, the Beneficiaries, or the Trust itself? It helps to remember that a Trust is a separate legal entity. The Trustees and beneficiaries are not personally liable for debts owed by the Trust.

The Trustee is acting in a fiduciary capacity. The Trustee is required to

How does a Trustee resign? By following the procedure in the Trust document. The Trust terms usually contain a resignation procedure to follow. The Trustee typically must give notice to the beneficiaries and to the new Trustee. This notice can be drafted by a Trust administration attorney. If there is no resignation provision, the Trustee

Generally speaking, inheritance is not subject to tax in California. If you are a beneficiary, you will not have to pay tax on your inheritance. There are a few exceptions, such as the Federal estate tax. However, an estate must exceed $11.58 million dollars per person in 2020 to be subject to estate tax in

A Trust is an entity that hold assets. Living Trusts are set up to benefit the Trust creators, (also referred to as the “Settlors,” or “Grantors,”) during their lifetimes. Living Trusts also provide the terms for management and distribution of the assets once the Grantors pass away.

Living Trusts are typically drafted by an estate

How do you replace a Trustee? The answer depends on the language in your Trust document. Most trusts have a specific section that outlines the procedure in which a Trustee can be replaced.

Some Trustees step down willingly. In certain instances, you can have a Trustee sign a document called a Resignation by Trustee, and

The Following is a Transcript of this Video. For More Information, CLICK HERE

Hi, this is Keith Davidson from Albertson & Davidson.

In this video, I’m discussing whether or not a Trustee can loan money to the Trust.

So, let’s say a Trust is short on cash.  It owns real property.  Maybe it owns

The Following is a Transcript of this Video. For More Information, CLICK HERE

Hi, this is Keith Davidson with Albertson & Davidson.  In this video, we’re discussing the trustee’s sale of assets.

If a trustee sells a trust asset, can you reverse that sale?  Can you bring the asset back into the trust?  And

The Following is a Transcript of this Video. For More Information, CLICK HERE

Hi, this is Stewart Albertson with Albertson & Davidson.  And I want to talk to you about bad trustees doing bad things to your interest in a trust.

We do many, many consults with clients where they come in and say

The Following is a Transcript of this Video. For More Information, CLICK HERE

Hi, this is Keith Davidson with Albertson & Davidson.  In this video, I want to discuss when you can sue for trust mismanagement.

If you believe that your trustee is mismanaging the trust assets, perhaps they’re not investing properly, perhaps they’re