Trustees’ Duties and Your Rights

When creating your Trust, it goes without saying that you spend a considerable amount of time selecting a trusted family member or friend to serve as your Trustee. The California Probate Code provides that the Trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the Trust. To satisfy such a standard, the Trustee must exercise reasonable care, skill, and caution in investing and managing your trust assets.

With respect to the beneficiaries, a Trustee has the duty to administer the trust solely in the interest of the beneficiaries. During the trust administration, the Trustee has the duty to keep the beneficiaries reasonably informed of the trust and its administration. In addition, the Trustee must inform the beneficiary of certain events, such as the death of the settlors or the change of a Trustee. Unless the Trust indicates otherwise, you as beneficiary have the right to request a copy of the Trust.
In the event the Trustee fails to perform any of the duties laid out in the California Probate Code, the Trustee may be compelled to act, or be removed, by the Court on its own motion or on a petition of a settlor or beneficiary.
At Chauvel & Glatt, we understand that that your assets are important to you and that you want to ensure that your property will be distributed according to your wishes. To learn how our attorneys can assist you with your estate planning or other legal needs, contact us today.

Related Posts

Estate Planning

Special Needs Trust Planning

Many of our clients are not aware of the fact that leaving an inheritance to a beneficiary that currently receives public benefits can actually disqualify

Read More »
detailed illustration of a compass with estate plan text
Estate Planning

Pitfalls of DIY Estate Plans

Handwriting an estate plan on your own is never a good idea. All too often estate planners are requested to review planning documents that were

Read More »