Stepping into the role of a trustee can be empowering, but it does come with some significant responsibilities. In fact, trustees in the state of California are legally required to carry out some specific duties – i.e., their trustee duties – and failing to do so could result in them being sued for breach of fiduciary duties.
In this blog series, we will take a closer look at the primary trustee duties per California law. If you’ve been named as a trustee and are ready to receive some specific legal advice and help, don’t hesitate to contact San Fernando Trust Administration Attorney Darrell C. Harriman. He has the experience and knowledge you can rely on to help you successfully administer trusts.
California Trustee Duties: Interpreting the Trust & Related Responsibilities
One of the primary responsibilities that trustees have lies in:
- Understanding, interpreting and carrying out the terms of the trust and the wishes of the settlor (the person who created the trust).
- Administering the trust in accordance with all applicable laws, court orders, etc. and with a sufficient level of care.
Some additional trustee duties that are related to interpreting the terms of and administering the trust include (but may not be limited to):
- The duty of confidentiality, meaning that trustees are generally bound to keep the details regarding the administration of the trust and its beneficiaries confidential (unless sharing this information is necessary to the administration of the trust).
- The duty of impartiality, meaning that trustees should never promote the interests of any one or few beneficiaries at the expense of the others.
- The duty of setting aside his own self-interest, meaning that trustees are generally required to act in the best interests of the trust and its beneficiaries when administering the trust.
For our continued discussion regarding California trustee duties, check out the second and third parts of this blog series that will be published soon.
San Fernando Trust Administration Attorney at the Law Offices of Darrell C. Harriman
Do you need help administering a trust? If so, the trusted San Fernando trust administration attorney at the Law Offices of Darrell C. Harriman is here for you. For more than 34 years/three decades, our San Fernando trust administration attorney has been dedicated to providing his clients with personalized, highly responsive service, as well as superior representation for their important legal matters.
When people make the smart choice to move forward with San Fernando Attorney Darrell C. Harriman, they can be assured that they will have the optimal chances of bringing their case to a successful resolution.
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