El Dorado Hills Trust Wills and Probate Attorney
What is at Trust?
It is an interest in property held by one person for the benefit of another. For example, a parent may want to ensure that their child’s basic needs are provided for after their death either because the child has special needs or is a spendthrift.
There are other reasons for a trust two of which are:
- Property put into a trust can avoid lengthy and expensive probate.
- A Husband and Wife can maximize estate tax savings.
I am the beneficiary of a trust. If I do not like the way the trustee is managing my trust, is there anything I can do?
Yes! If the trustee is not doing his job properly, you may challenge his actions in court. For example, if he is disregarding the instructions of the trust document, you may contest his actions. Likewise you may take him to court if he has commingled the trust money with his own or has risked it in dangerous investments. If the trustee ignores your request for information or accounting, the court can force him to provide that information to you.
What is Probate?
Probate is a court action where the court supervises of the administration of an estate and the distribution of assets pursuant to the deceased's instructions. If the deceased person dies with or without a will, probate is necessary. If the decedent drafted a trust, however, the trustee is given the power to administer the assets and distribute the assets to the beneficiaries without probate and the need for court supervision. Probate fees are provided for by law and based on the gross value the estate. The fees are 4% of the first $100,000 of the estate, 3% of the next $100,000, 2% of the next $800,000, 1% of the next $9,000,000, and 1/2% of the next $15,000,000.
I am unhappy with contents of a Will or Trust. What can I do?
You should contact Peter. The Will or Trust may be invalid for various reasons. For instance, it may not have been done in the correct manner or the decedent may have been of unsound mind. He might also have been under undue influence from another. Importantly, if you are the decedent's spouse, you have certain rights which may not be set aside.