All posts by Jim

Surprisingly, knowing your family tree is essential in settling your trust or estate (and in any conservatorship proceeding)

Family

Due process and California law requires that your closest blood relatives* be notified by the person in charge of your estate if you died or became incompetent in each of these California contexts: If probate is required because you died without a will, your administrator must notify your heirs*, as your heirs are those who … Continue reading Surprisingly, knowing your family tree is essential in settling your trust or estate (and in any conservatorship proceeding) →

Terminating a trust because it has become unencomical to continue it.

Living Trust, Trust Administration

In California, a trust terminates when any of  the following occurs: The term of the trust expires. The purpose of the trust is fulfilled. The trust purpose becomes unlawful. The trust purpose becomes impossible to fulfill. The trust is revoked. On termination of the trust, the trustee continues to have the powers reasonably necessary under … Continue reading Terminating a trust because it has become unencomical to continue it. →

If a parent abandons a child, should that parent be allowed to inherit if (years later) the child died without a will?

Family, Probate

Historically, both parents have had a legal right to inherit from a child who died without a will, if that child died with no spouse, no registered domestic partner, and no descendants. This has long been the law in California, even in cases where a parent abandoned the child from birth, sometimes resulting in grossly … Continue reading If a parent abandons a child, should that parent be allowed to inherit if (years later) the child died without a will? →

What is reasonable trustee compensation?

Trust Administration

Under California law, trustee compensation must be “reasonable” if there are no criteria or other guidelines set forth in the trust. (Probate Code section 15681.) Often, trusts simply say that the trustee is entitled to “reasonable compensation” without any definition or any guidelines  to help determine the amount of trustee compensation. In those cases, California law … Continue reading What is reasonable trustee compensation? →

Who should be successor trustees of your living trust?

Elder Law, Living Trust

In selecting a successor trustee for a living trust, people often gloss over the complications involved and think in terms of such broad generalizations as “manage my estate” and “take care of my beneficiaries.” In reality, a trustee performs very specialized functions. The trustee must prudently invest assets, consider distribution requests, keep accurate records, file … Continue reading Who should be successor trustees of your living trust? →