California Trustee Duties: Here’s What You Should Know (Pt. 3)
December 31, 2014
Concluding our blog series California Trustee Duties: Here’s What You Should Know, below, we will point out some final important things to be aware of when it comes to serving as a trustee in California.California Trustee Duties: Resolving DisputesDuring the course of administering a trust, should any disputes or issues arise regarding the following issues, it will typically be up to the trustee to bring these matters to a resolution (potentially with the help of other professionals like, for instance, attorneys, accountants and/or judges):
The allocations to the beneficiaries
The assets and investments of the trust
The evaluation of the trust’s holdings
Ambiguities regarding the provision or intention of a provision of the trust
Modifying or revoking the trust to make it conform to the wishes of the settlor
Allegations of breaching fiduciary duties (This generally occurs when beneficiaries have alleged that a trustee has breached his trustee duties.)
The validity of the trust.
Here, it’s also important to mention “no-contest” clauses. These causes are often included in trusts by settlors in order to try to minimize potential future trust disputes and litigation. In general, no-contest clauses in trusts stipulate that a beneficiary of the trust can be removed from this position if he initiates certain court proceedings (to dispute the trust) and loses these proceedings.The Bottom Line: California Trustee Duties Are Numerous & Complicated
The bottom line regarding California trustee duties is that it’s generally wise to retain an experienced attorney’s helped administering trusts because:
Trustee duties can be complicated, especially when trusts hold substantial assets, there are many beneficiaries to trusts, etc.
Trustees can be held personally liable if they make mistakes administering trusts.
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:
Receive clear answers and information about their case
Have an experienced, skilled lawyer listening and responding to their legal concerns
Have the best possible representation throughout the course of their case, regardless of whether it proceeds through mediation, arbitration or court proceedings
Have the optimal chances of bringing their case to a successful resolution.
Let’s talk about your case and legal needs today. You can contact our firm by calling (818) 892-7093 or by filling out the contact form on this page.
From our offices based in North Hills, we provide the highest quality legal services to our clients throughout the San Fernando Valley, Simi Valley, Santa Clarita and the greater Los Angeles area.