Shareholder Andrew Verriere highlights Governor Newsom’s recently signed AB 1194, which expands the protections for conservatees and proposed conservatees in California. Among other things, (1) their attorneys are required to serve as advocates rather than advising the court on the attorney’s perception of what is in the conservatee’s or proposed conservatee’s best interests, (2) they can select their own counsel, and (3) provides for investigation of alleged abuse by fiduciaries with increased penalties for those found liable.
You can find a short update on the statute at Bloomberg Tax.
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.
What questions should an attorney ask before hiring someone to prepare a client’s fiduciary accounting? What are the indicia of a poorly prepared accounting? Are waivers of account ever a good idea? Should the trust document routinely waive accountings? Ever? Is there anything a trustee’s attorney can do to shorten the statute of limitations on breaches of trust disclosed in an accounting?
In an increasingly paperless world, is it time to update the law to allow electronic wills?