A: Probate Code Section 16000 et seq. lays out ALL of the duties trustees have, and there are MANY. Having said that, the most common mistakes made by Successor Trustee are the following: selling assets for below-market value, failing to provide an accounting, self-dealing, unreasonably delaying distributions, failing to follow the trust’s terms, not adquately keeping the beneficiaries informed throughout the process, etc.
Q: What are the most common types of mistakes Successor Trustees make?
- Q: Is it ever possible for someone without a trust to own real estate in California and AVOID probate given the high values of real estate?
- Q: If I only want 2 of my 3 children to inherit my home, would it be advisable to use a revocable transfer on death deed?
- Q: What’s the best way to ensure your estate doesn’t gobble up time and money in probate?
- Q: I only want one of my three children to inherit my house when I die. What do I need to do?
- Q: My late father owned a duplex as a joint tenant with his sister when he died. We also found his will, which stated he left all of his assets to me and my sister. Who will end up owning the duplex?