Serving as the trustee of a trust created by a client, associate or someone close to you in Woodland Hills can be an arduous task. Initially, you may have no problem taking it on out of your sense of loyalty to the trust's settlor. Yet eventually you may get to the...
Trust Administration
Understanding the limitations to spendthrift trusts
As you get deeper into your estate planning, the issue of how you can preserve your assets for the benefit of your beneficiaries in Woodland Hills will inevitably come up. Many come to us here at The concerned that their beneficiaries will...
Determining a trustee’s liability
Being party to a trust in Woodland Hills can be a nerve-wracking proposition given that your interest in it are wholly impacted by the actions of another. While you of course want to trust that the settlor of the trust chose a trustee that he or she believed and had...
Widow and bank at odds over management of trust
Helping someone through their final days in Woodland Hills can be a monumental task. The difficulty of such an endeavor may be what makes it understandable why so many seem to favor those that they are closest to during their twilight years in their estate planning....
Collecting child or spousal support from trust assets
Different areas of the law may intersect in certain cases. However, two that you might not assume to have much relevance to each other are estate planning and family law. You might be surprised to learn how often these different legal disciplines go hand-in-hand. Many...
Determining the legal viability of oral trusts
The basic premise of a trust is fairly straightforward: A person (the settlor) asks another (the trustee) to retain and manage an asset for the benefit of yet another (a beneficiary). Given the simplicity of that explanation, one might think that a trust is little...
Brothers and sister at odds over mandate of family trusts
Naming a reliable trustee may be the most important decision that a person in Woodland Hills can make after deciding to establish a trust in the first place. That trustee will be endowed with power to oversee much of the management and administration of the...
Detailing your protections from liability as a trustee
If you have been asked to serve as a trustee of a trust account by a family member or friend in the San Fernando Valley, your first concern may be what sort of consequences you could face should you commit an error during the execution of your duties. Many of those...
Detailing a trustee’s duty of accounting to beneficiaries
One of the main advantages that many often cite when extolling the benefits of trusts is the privacy that they afford. Woodland Hills residents can place estate property and assets in trusts without having them become a matter of public record. According to the...
Determining when a trustee may be liable for a breach of trust
When a settlor entrusts a trustee to manage assets for the benefit of designated beneficiaries in Woodland Hills, that person is placing a great deal of faith in the trustee’s abilities to accomplish his or her aims. Oftentimes, the person or party chosen as the...