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When Executors and Trustees Go Wrong

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When Executors and Trustees Go Wrong

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Trustees and executors take on a big job. Sometimes they get off track and commit wrongdoing. There are ways to hold them accountable for this.

Trustees and executors take on a big job. Sometimes they get off track and commit wrongdoing. There are ways to hold them accountable for this.

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When Executors and Trustees Go Wrong

  1. 1. Sensitivity: Confidential WHENEXECUTORSAND TRUSTEESGOWRONG Presented by
  2. 2. Sensitivity: Confidential SOMEONEWHOWISHESTO LEAVEANINHERITANCE NEEDSHELPFROM ANEXECUTORORTRUSTEE TOCARRYOUTTHEDESIREDPLAN. These fiduciaries take on a big job, and sometimes things go wrong. At Keystone Law Group, we are skilled in helping clients hold executors and trustees accountable for wrongdoing that harms beneficiaries.
  3. 3. Sensitivity: Confidential IN THIS PRESENTATION WE WILL DISCUSS: ■ The difference between estate administration and trusts in California ■ Factors that affect who to appoint or not to appoint as trustee or executor ■ The role professional fiduciaries can play in handling an estate ■ Family dynamics as a possible cause of conflict about inheritance ■ The duties that a trustee or executor takes on in their role ■ Common types of wrongdoing by executors or trustees ■ Legal options for challenges to such wrongdoing
  4. 4. Sensitivity: Confidential ESTATE ADMINISTRATION IS A COURT- SUPERVISED PROCESS FOR HANDLING THE FINANCIAL AFFAIRS OF SOMEONE WHO HAS DIED. Many Californians, however, choose to have their property pass to heirs through a living trust. These trusts allow for property to transferred without court supervision.
  5. 5. Sensitivity: Confidential CHOOSING THE RIGHT EXECUTOR OR TRUSTEE DEPENDS ON MANY FACTORS. Good organizational skills and judgment is important. But it’s also important to recognize how sibling rivalries or other family issues can affect the executor or trustee’s work.
  6. 6. Sensitivity: Confidential IN CALIFORNIA, BANKS ARE NOT THE ONLY WAY TO INVOLVE A PROFESSIONAL FIDUCIARY. There are also individual private professionals who are certified by the state to act as fiduciaries.
  7. 7. Sensitivity: Confidential UNRESOLVED FAMILY CONFLICTS OFTEN RESULT IN DISPUTES OVER ESTATES AND TRUSTS. For example, an adult child who takes on a large caregiving role for a parent may feel entitled to a greater share of the estate than other siblings.
  8. 8. Sensitivity: Confidential A TRUSTEE OR EXECUTOR HAS MANY DUTIES. These duties include handling the property of an estate or trust effectively and distributing it to beneficiaries fairly according to a will, a trust or under intestacy laws. Personal representatives of an estate are generally bonded. Trustees generally are not.
  9. 9. Sensitivity: Confidential COMMON TYPES OF WRONGDOING BY FIDUCIARIES INCLUDE: ■ Embezzlement, fraud or theft from the estate or trust ■ Favoring one beneficiary over another ■ Wrongful expenditures and fees ■ Abuse of power Such wrongdoing is more likely to happen with trusts than with court-supervised estate administration.
  10. 10. Sensitivity: Confidential LEGAL ACTIONS AGAINST WRONGDOING BY BOTH EXECUTORS AND TRUSTEES ARE POSSIBLE. These actions include: ■ Compelling an accounting of trust assets ■ Removal of a fiduciary ■ Injunction against prohibited use of trust funds ■ Lawsuit to hold a fiduciary personally liable for damages
  11. 11. Sensitivity: Confidential LED BY FOUNDING ATTORNEY SHAWN KERENDIAN, KEYSTONE LAW GROUP HAS HELPED HUNDREDS OF CLIENTS RESOLVE CONFLICTS ABOUT TRUST OR ESTATE ADMINISTRATION. Mr. Kerendian and the team of attorneys he supervises have the specialized skills needed to hold executors and trustees accountable for wrongdoing that harms beneficiaries.
  12. 12. Sensitivity: Confidential FREEWHITEPAPER To learn more about your options for choosing a trustee or executor and holding them accountable for their actions, please visit our website and read our white paper. © 2018 Keystone Law Group, P.C. All rights reserved. Design and editorial services by FindLaw, a part of Thomson Reuters. Share the white paper

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