Tag Archives: Trustee

Do I Need An Attorney For A Trust Administration?

“Do I need an attorney for a trust administration?”  That depends. If you are asking whether you are required to have an attorney in order to administer a trust, the answer is “no”. On the other hand, if you are asking whether it is in your best interest to have an attorney guiding you through the trust administration process, the answer is an emphatic “yes”! With all of the responsibilities and duties a trustee has, it is to your great benefit to have an experienced attorney guiding you through the process. In addition to protecting your legal rights, working with…

Understanding The Benefits Of A Revocable Living Trust

Of the instruments available to avoid probate, the < revocable living trust is perhaps the best and most flexible option available. You may wonder what about a trust makes it special? The answer is very simple. A normal will substitute is a single account, and doesn’t have the flexibility of a trust. A single account like a life insurance policy or a 401k is like a box; it can only contain the assets within its interior walls. A trust is more like an umbrella that can extend to cover all of the boxes you can possibly collect.  A trust can cover all of the...

A Trustee’s Duties In California

A man was cited as an executor of his aunt’s estate. The aunt passed away leaving a distributable estate consisting of $125,000 cash. The man probated the will and was appointed executor.  Then, the man borrowed $90,000 in cash from the estate ad and invested the money in a natural gas operation, which turned out to be lucrative. Within three months of making the investment, the man sold the interest in the mining operation for $180,000 and repaid the estate the $90,000 he borrowed. However, the man retained the balance of the proceeds for his personal use. Performing duties and…