Click on the below video for my Top 10 List of Trust and Estate Beneficiary Rights. I have also posted below the video the text of the discussion. And feel free to forward this blog post to anyone who would be interested, including beneficiaries, and trustee and executor fiduciaries. Thank you. Dave Tate (San Francisco and California)
Hello, I’m Dave Tate. I’m a San Francisco, California civil, trust, estate, conservatorship and elder abuse litigation attorney.
After years of practice, the following is my top 10 list of trust and estate beneficiary rights in most situations.
And correspondingly, if you are a trustee or executor with fiduciary duties, satisfying these responsibilities will help put you on a good path. The following list is not in any particular order.
Here are the top 10 trust and estate beneficiary rights.
1st. To have the trustee or executor follow the terms of the trust or will.
2nd. To have the trustee or executor act and interact in the best interests of the beneficiaries.
3rd. For the trustee or executor not to self-deal.
4th. To have the assets go to the people who the Decedent would have intended if the trust or will isn’t clear or doesn’t reflect the Decedent’s true wishes.
5th. For the trustee or executor to prudently invest, spend and maximize the trust or estate assets.
6th. For the trustee or executor to take possession of and safeguard the assets.
7th. For the trustee or executor to timely and prudently manage and administer the trust or estate.
8th. For the trustee or executor to make timely distributions in accord with the terms of the trust or will.
9th. For the trustee or executor to reasonably provide timely information about the trust or estate, the assets and its management, as required. Note, as a beneficiary your requests must be reasonable and appropriate.
And 10th. For the trustee or executor to provide timely and proper accountings, as required.
If you are a trust or estate beneficiary you need to know your rights. Similarly, if you are a trustee or executor, you need to know and satisfy your duties and responsibilities to complete your tasks and avoid problems and possible liability. That’s it for now. Thanks for listening.
Dave Tate, Esq. (San Francisco and California), http://californiaestatetrust.com