Bay Area Estate And Tax Planning Law Firm
Serving as a trustee is a major legal responsibility. Under the California Probate Code, a trustee must manage trust property carefully. The trustee must follow the trust's instructions and California law when distributing assets. Many trustees are family members who...
Being appointed as a fiduciary of someone’s estate, whether it's as an executor, administrator or trustee, is a position of significant responsibility. You are required to act with loyalty, care and impartiality. In addition, you are also held to strict legal...
Estate administration in California is usually a predictable process. In some cases, there is a will in place clearly outlining who should inherit from the estate and what property they should receive. Even if a person dies without a will, intestate succession laws...
During estate administration, personal representatives address numerous financial issues. They communicate with creditors and cover probate expenses. They may also have a responsibility to address income taxes. Filing an income tax return and retaining adequate...
Accusing someone or an institution of breaching their fiduciary duty is a serious allegation, and one that also demands strict proof — as it should. Just what does it take to prove that someone breached their fiduciary duty? There are often some misconceptions. Losses...
To some people, estate administration is synonymous with probate court hearings. Others might picture the process of distributing the deceased person’s property to beneficiaries or heirs. Estate administration does require the management and distribution of estate...
Addressing financial obligations is a key component of estate administration. A personal representative or executor typically needs to provide appropriate notice to mortgage lenders, credit card companies and others who may have a financial interest in the estate....
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...