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Trustees Executors & Fiduciaries Archives

What are the duties of a trustee?

A trustee in the state of California has the responsibility of managing property in a trust that has been established for an individual's beneficiaries. The trustee is required to adhere to the requirements that the creator of the trust, also known as the settlor, mandated.

Court papers filed valuing Lou Reed's assets at over $20 million

Los Angeles residents with high-value estates may be interested in the latest court filing by the executors of the Lou Reed estate. This filing outlines the value of most of Reed's property, though some high-value assets have been left out.

Court approves visits for Casey Kasem's daughter

Many people may not understand the importance of a health care directive or a living will. More people may not understand the difference between the two. Essentially, a health care directive allows one make specific rules about his or her care in the event they become incapacitated, cannot speak or cannot make decisions on their own behalf. Similarly, a living will can present protocols for a person’s care in end-of-life situations.

Trust maintenance costs factor into California estate plans

Trusts can have significant benefits for Los Angeles individuals with defined goals for estate assets. During estate planning, the creation of a trust must be balanced with the costs of establishing the document and maintaining the trust, in the present and the future.

A California power of attorney allows financial caregiving

Aging California parents frequently choose a loved one, often an adult child, to handle personal finances when they no longer desire or feel competent to make wise money decisions. You might start out informally by using a parent's PIN code to make an automatic teller transaction or step in to reconcile a bank statement.

How to protect a Los Angeles senior from financial abuse

Independence is a precious possession that seniors often guard carefully as long as they feel sound in body and mind. Even when age or illness interferes with that independence, older people can be hard-pressed to give up activities like driving or balancing a bank statement.

California estate plans guard against elder financial abuse

Many people are hale and hearty throughout their whole lives, but many more suffer health problems as they age that make it difficult to continue to perform tasks that were once easy. It's not uncommon for older Southern California residents to get to a point where they cannot or do not want to handle finances effectively.

California estate timetable for heirs and beneficiaries

Grief and duty mix following a family member's death. Relatives nearest to the deceased are often assigned the roles of executors and trustees with time-sensitive duties to perform. Fiduciary responsibility begins the moment someone dies and continues until estate assets are distributed, as directed by the decedent or a court.

Children may not be best choice for California fiduciary role

California parents who keep contents of their estate plans confidential aren't doing heirs any favors. Children can be disappointed, and sometimes angered to the point of litigation, by making assumptions about inheritances or roles as fiduciaries.

Are relatives qualified to be executors of California estates?

This question can only be answered by you as a testator, the will creator. The decision to designate a spouse or other relative as the executor of your estate depends on the qualities, abilities and willingness of the family member.

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