Stress-Free Estate Planning Conflict-Free Trust Administration

Los Angeles Trust Administration Attorney

A trustee is accountable to the trust beneficiaries and must fulfill many important responsibilities in a timely manner. Trust beneficiaries have many rights against a trustee who does not fulfill the duties the law imposes on him or her. Trustees can be severely punished by the court if they engage in conflicts of interest, commingling of trust and personal assets, mismanagement of trust property, taking excessive trustee fees, or avoiding contact and communication with the beneficiaries. Most often, trustees get in trouble for not sending out the statutory notification by trustee advising the beneficiaries of their rights to contest the trust; or, for not providing detailed trust accounting within the time prescribed by law when presented with a written demand for accounting. In some cases, trustees can be surcharged for breaching their duties.

If you are a trustee, it is crucial that you take the proper steps in trust administration to avoid legal penalties. If you need assistance with any aspect of trust administration, reach out to the Law Offices of Maria N. Jonsson, PC as soon as possible. With more than 15 years of experience, our Los Angeles trust administration attorney is well-versed in all aspects of trust administration. We can help you navigate the process.

Please contact our office online using the online request form or call (310) 935-0706 for your initial consultation today.

Do I lose control over my assets after I transfer them into my trust?

You do not lose control of your assets. This is because you are both the creator (Settlor), as well as the Beneficiary, and the Trustee of your trust, and you manage the trust for your own benefit. You continue to control all of your assets the same way as before: you can still buy, sell, borrow, gift, and transact in any way you wish with your assets in the same manner as when you owned them in your name alone. This is also true for buying, selling, refinancing, and leasing your real property.

What Happens if I Cannot Act as Trustee?

If you cannot act as the trustee, you will name a successor Trustee in your trust. He or she will step in your shoes to represent the trust when you are unable to act as a Trustee and will take over the trust management for your benefit since you remain the trust beneficiary during your life. The Successor Trustee can take over under three circumstances: if you voluntarily resign as Trustee, if you become incapacitated and can no longer act as Trustee, or when you pass away. After your death, the Successor Trustee will manage your trust for the benefit of the trust beneficiaries that you designated in the distributive provisions of your trust.

How the Law Offices of Law Offices of Maria N. Jonsson, PC Can Help

As previously mentioned, we assist clients with all aspects of trust administration. Whether you are a trustee or a beneficiary, our firm can provide you with the personalized guidance and experienced counsel you need.

At the Law Offices of Maria N. Jonsson, PC, we assist clients with the following elements of trust administration:

Our goal is to achieve conflict-free trust administration. When this is not possible, whether due to an improperly drafted trust or other reasons, we remain dedicated advocates for our clients. Our seasoned Los Angeles trust administration lawyer understands the complexities of different family dynamics and can help you and your family achieve a solution that is suited to your situation.

Request a consultation with an estate planning attorney when you call (310) 935-0706 or contact us online.

  • We Work as Part of
    a Larger Team

    We work with our clients' financial planner, CPA, realtor, and insurance broker to implement a well-rounded and thorough legal plan for wealth preservation and inheritance transfer.

  • Strategic Planning &
    Attention to Detail

    We carefully look at each factor that affects the execution of an estate plan – from the perspective of minimizing and eliminating reassessment of property taxes to avoiding post-death conflicts.

  • Mediator by Training & Peacemaker by Heart

    We believe that an estate plan should leave behind not only property, but most importantly – harmony, rather than tear families apart with poorly drafted or ambiguous and confusing term