It is not surprising that trust and estate disputes continue to increase. The number of people entering retirement age is increasing. The mobility and transience of American society are accelerating. The amount of people who have remarried with children from a prior marriage is expanding. Those trends mean that more people than ever are becoming elderly with diminishing capacity, an absence of close family members nearby to care for them, and the potential for disfavoring heirs in asset distribution. Experienced and knowledgeable retired judicial officers offer their service as private judges to determine disputed issues in a case. The initial reaction of many parties is that the cost of a private judge is prohibitive. The cost, however, may turn out to be less than the cost of proceeding in the superior court.
Determine how to produce the summary of account and each supporting schedule. Recognize California's Uniform Principal and Income Act. Recognize when the fiduciary's records reveal a breach of trust. Determine how to get the records you need to do the job you were hired to do.
Trustees should anticipate that beneficiaries’ inquiries and demands will intensify.
Clients, friends and colleagues often ask me "how often should I update my estate plan?" Estate planning attorneys commonly recommend that you review your estate plan documents - i.e., your will, revocable "living" trusts, power of attorney for financial matters, and advance health care directives - at least every five years.