351-year-old Will Causes Dispute The Associated Press recently ran an article by Rodrique Ngowi about a charitable trust fight in Massachusetts. It seems that a gentleman in the 17th Century donated his property for the benefit of local schoolchildren. Homes were built on the property and the rents, generally, went to local schools. This appears to have worked well for 351… Read More
How Can I Get a Copy of My Trust? Your father, as a settlor and trustee, has a right to a copy of the trust that he and your mother hired the attorney to draft, assuming the attorney still retains a copy in the file. The request does not have to be notarized; in fact, he should simply be able to pick up the phone and call.… Read More
How much should I be compensated as trustee? Typically, a trust won’t specify how much a trustee should be paid for their effort. And yet, unless wavied by settlor, or specifically established by settlor, successor trustee’s have a right to ‘reasonable compensation’. What is reasonable?… Read More
Six Duties and Liabilities of the Executor or Administrator in California Probate Administration There are six Duties and Liabilities of the personal representative (administrator or executor) under the California Probate Code. 1. Managing Trust Assets Be prudent; keep assets separate; earn income from the assets, if possible; observe legal restrictions on asset management. 2. Inventory of Estate Property Locate the property; determine its value; file inventory and appraisal… Read More
What is a ‘testamentary trust’? A ‘testamentary trust’ is a will that directs the creation of a trust, either explicitly or because the terms of the will can’t be carried out immediately. In California, beneficiaries under a trust are entitled to annual accountings from the trustee (usually the executor of the will) unless the terms of the will stated otherwise.… Read More
What if a beneficiary receives more than they should? One potential probate client question: If a payer (an executor under a will, or a trustee of a trust) overpays a beneficiary when a family member dies, does the payer have a right to ask for the money back? Absolutely! You do not have a right to keep funds given by mistake. Consult a local… Read More
Does Incapacity Confusion have you Incapacitated? Yesterday at the San Diego Parent Connection Swap Meet, a woman asked me about setting up a Durable Power of Attorney for Property Management for her elderly father. He already has a Living Will (he lives in Hawaii). Which brings me to today’s subject: As a senior, what documents do I need to prepare in… Read More
Letter of Last Instructions Here’s a good idea: Give guidance to your heirs, expected personal representative (executor or trustee) and loved ones by creating a Letter of Last Instructions. Tell your estate planning attorney, and proposed Excecutor or Trustee where it can be found, and leave it in that trusted place (safe deposit box or fire-proof safe – you… Read More
Considering a Special Needs Trust? Concerned about a disabled child or parent? Considering a Special Needs Trust (SNT)? These can be powerful tools if drafted carefully. They can also be restrictive monsters if created by attorneys who work from pre-made templates or without thought to all contingencies. Special Needs Trusts are often prepared for disabled adults with disabling conditions, such… Read More
