How to Resolve Trust Problems If You Are a Trustee
If you are a trustee dealing with trust problems with beneficiaries, you can protect yourself and the trust by doing the following.
If you are a trustee dealing with trust problems with beneficiaries, you can protect yourself and the trust by doing the following.
Section 17200 Petitions are an example—they allow trustees and beneficiaries to petition the court concerning the internal affairs of the trust administration.
Yes, as a trustee it is possible that you could be legally responsible if something goes wrong with the trust administration.
Unfortunately, it is no different for the trustee or executor who must oversee the payment of estate, income, and other tax issues.
Under probate code when a trust or a portion of a trust becomes irrevocable, the Trustee has a legal obligation to send notice. Find out more here.
What responsibilities does a trustee have when administering a Crummey Trust? And what makes a Crummey trust different from other trusts?