by Hess Verdon | Oct 24, 2023
What a Trustee Should Know When Managing a Trust
If you are a trustee and are continually barraged by questions regarding the trust and the handling of funds, maintain good notes, follow probate code 16061.7 and other codes, and stay transparent in your actions. If you have and it’s non-stop accusations, then read on.
In some instances, siblings will get greedy at the outset of the trustor’s death. Some beneficiaries immediately confiscate assets such as jewelry, art, furniture, cars, to name just a few. As a trustee, you should immediately stop that from occurring in keeping with your fiduciary duty.
Here are some topics that might assist you in finding your answer:
- Stealing from an estate before inventory
- Beneficiary Suing the Trustee of a Trust for Mishandling
- Beneficiary Rights in California
Did assets already get stolen? Learn more.
Now, suppose you have received a letter from a beneficiary stating you have misappropriated funds; In that case, it’s time to lawyer up and find a trust litigation law firm to help protect you. [After 33 years of trust litigation in California, you can have peace of mind with Hess-Verdon & Associates ]
If you are a trustee, claims of undue influence, misappropriation of trust funds, etc., essentially state potential civil breach of fiduciary duty. Having a trust dispute attorney working closely with you is essential.
How to Choose a Trust Litigation Attorney
As a trustee, you have a fiduciary duty to the trustor and the beneficiaries. Staying transparent is always a good choice to keep beneficiaries from concern. However, if you just received or intimated to have you removed as trustee, then ask the following:
- Have you worked in our court jurisdiction
- How many years have you been doing “trust litigation.”
- How many cases have you done in the last year?
- Do you have an initial consultation more than just an initial phone call to pre-determine if the case is a fit?
- Are you a solo attorney, or is there a team of attorneys?
The bottom line is that the dispute attorney should be well-rounded with other attorneys in the ear-shot range. The point is to have an attorney speak to other in-office attorneys whenever needed.
Here at Hess-Verdon & Associates, we are a team of attorneys. You will have a primary attorney, yet other attorneys are just a few feet away to help with additional questions should they arise.
File a Lawsuit to Recover Assets from a greedy sibling
As an Executor or Trustee, one fiduciary duty is to protect from the theft of estate assets. Therefore, you may have to obtain a court order from the probate judge to have missing items returned from a sibling stealing from the Trust.
If you have sufficient documentation or testimony, and the assets have not been returned, you will need to seek counsel from a Trust & Estate Litigation Attorney.
What Happens when the Executor or Trustee is Stealing from the Estate?
When a Trustee is stealing from a Trust, i.e., possibly forged documents, you should act within 120 days after the Trustee gives a beneficiary notice under probate court section 16061.7. Once the mailing the announcement, the clock starts from there. Take note that you have 120 days to review all documents and challenge the Trust or Will if there is a disagreement with any documents, amendments, etc. Fraud and forgery are forms of stealing where people call and say, “my brother cheated me out of my inheritance.” Don’t allow yourself to be the person who says, “my inheritance was stolen.” You are against a time table to act! Find a Trust litigation attorney who has in-depth knowledge and help you contest the matter.
Take away: You as a beneficiary still have your right intact if you find any misappropriation of trust funds. If there is stealing from an Executor or Trustee, the 120 days rule does not apply. If, however, the “stealing” occurred through forging of documents, and you were given notice yet did not act, you are unable to contest the Trust.
