We spend a good deal of time discussing the shortcomings of individual Trustees. But there are a few tips that beneficiaries should know to try to make a Trust administration go a little smoother.
1. Patience is a Virtue. It takes time to properly administer a Trust estate. Assets have to be gathered together
Beneficiaries have all the legal rights, and none of the legal obligations, when it comes to California Trusts and Wills. But beneficiaries, at times, have one very practical obligation—paying to enforce their rights.
For beneficiaries of California Trusts, it’s every beneficiary for him or herself. That means there is no governmental oversight of Trustees until
The biggest decision for anyone creating a revocable, living trust is the choice of Trustee. A Trustee acts as the manager of the Trust assets. They call all the shots, make all of the important decisions, and decide when and how the Trust assets will be distributed. The Trustee is in a very powerful position