Bay Area Estate And Tax Planning Law Firm
Estate and trust administration may require months or years of concerted effort. The person creating an estate plan or funding a trust typically selects someone to manage administrative matters. A trustee helps administer a trust, while a personal representative or...
Estate administration is a complex process. The personal representative named by the decedent or appointed by the California probate courts has to secure estate resources and review financial records. They need to provide the courts with a copy of the will and an...
An executor plays a crucial role in managing and distributing a deceased person's estate according to their will. This individual holds a fiduciary responsibility, meaning they must act in the best interest of the beneficiaries and manage the estate with care and...
Individuals who have close relationships with those planning their estate and those acknowledged as responsible by their loved ones could end up serving as the fiduciary of an estate. Both personal representatives assisting with estate administration and trustees...
Probate proceedings require diligence and careful oversight. That is one reason why people often take great care to choose someone they trust to act as their personal representative. It is also one reason why estates with valuable property or no testamentary...
Taking on fiduciary duties in California requires careful preparation and a clear understanding of your responsibilities. Whether you are a trustee, executor or corporate officer, you must act in the best interests of those you serve. Here is how to get ready for this...
When a loved one passes away, the executor of their estate takes care of the assets, pays off debts and distributes property according to their wishes. While executors have important responsibilities, they do not possess unlimited authority. Most probate laws require...
The concept of fiduciary duty of loyalty plays a crucial role in estate planning. Whether you are creating an estate plan or a fiduciary in someone else's plan, understanding this principle is essential. Knowing what it means and what it entails may help you carry out...
When drafting a will, appointing an executor can benefit surviving family members and heirs. An executor has a vital role in managing the decedent’s estate, paying off debts and distributing the assets based on what the will says. Most of the time, having someone...
California trustees have a fiduciary relationship with the trust's beneficiaries. In other words, they are legally responsible for acting on their behalf, not their own. While doctors and lawyers also have a fiduciary responsibility to their patients and clients, a...