Trust Administration

A trust can be a valuable tool in your estate planning in the right circumstances, and is critical to carrying out your wishes when you pass away. Trusts can give you the ability to immediately transfer assets and provide for beneficiaries without the need for probate. A trust sets up a legal relationship in which property or assets of the grantor are held by the trustee for the benefit of the beneficiary.

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Elder Preparedness: Entering the Unknown

If you have parents or grandparents who are in their declining years, you may begin to feel overwhelmed by the magnitude of changes that are taking place in their lives. It is truly a time of entering the unknown, because none of you has likely experienced this before in the roles you now occupy. Their independence begins slipping away as simple tasks—shopping, driving, preparing meals—suddenly become unmanageable because of increasing forgetfulness or a broken hip from a fall.

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When Should a Conservatorship Be Established?

In California, a conservatorship is a legal relationship established by an elder law attorney that appoints one person (the conservator) responsible for the needs of another (the conservatee). The conservator can be given authority over the conservatee’s physical needs or just their estate when it is found that the conservatee is unable to do so. The attorney files a petition with the court, which closely monitors the actions of the conservator.

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Working with Co-Trustees

Trustees have a large number of duties and responsibilities that carry legal and other consequences if breached. When there are two or more people acting as trustee at the same time there can be complications. Each co-trustee is bound by the duties of participation and prevention. In other words, they must divide up the work between themselves but each are still accountable for the actions of the other to redress a breach of the trust.

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