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
My friend and colleague, Michael Hackard, with Hackard Law in Sacramento, California, approached me the other day with an intriguing and much overlooked concept to recapture lost assets from an elder abuser: “constructive trusts.” Our discussion lead to the following article that we co-drafted on the issue of constructive trusts.
THE PROBLEM: FINANCIAL ABUSE