Category Archives: Trust Administration

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. →

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? →

Terminating a California irrevocable trust because it has become uneconomical

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 California irrevocable trust because it has become uneconomical →