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.
When administering a trust, some trustees automatically assume that they must sell the business interest that is held in the trust.
Section 17200 Petitions are an example—they allow trustees and beneficiaries to petition the court concerning the internal affairs of the trust administration.
As trustee, you want to make sure to do your job well. Your next step should be to locate all trust assets. This serves 3 purposes. Read more here.
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.