First off, lets define some popular terms: A trust, or living trust, is a document designed to help families avoid legal process, probate, after a loved one dies. 2009 Californias Executor Code - Section 15640-15645 :: Article 3. we provide special support If a trust has more than one trustee, each trustee has a duty to do the following: (8693), (a) To participate in the administration of the trust. A trustee of California trust has numerous responsibilities and duties. Outlandish investments and uninformed property sales, for example, are clear breaches of this fiduciary duty. If a trustee breaches these or any other of the duties imposed by the trust, common law, or the California Probate Code, the beneficiaries may have grounds to remove the trustee. This paragraph shall not apply to a charitable remainder trust. This presumption is a presumption affecting the burden of proof. All citizens have a right to have access to the laws that govern them. ?To see that the trust property is designated as property of the trust. for non-profit, educational, and government users. A trust involves three parties: You as the creator, the trustee or trustees who agree to manage your assets as directed by the terms of the trust, and the beneficiaries., However, the California Probate Code Trustee Duties make it very clear that the Trustee is obligated to act in the best interests of the trust beneficiaries. In late 2021, California enacted AB1079, which revised probate code section Effective January 1, 2022, when a trustee receives notice that the settlor is incompetent, the trustee must provide a copy of the trust to any beneficiary entitled to a share of the trust estate upon the settlor's death. (8831), (b) If an instrument creating a trust affected by this section has been recorded, a notice of pendency of judicial proceedings under this section shall be recorded in a similar manner within 10 days from the commencement of the proceedings. Typically, the person or persons who create a revocable living trust hold power to revoke the trust. The trustee is not required to account to a beneficiary as described in subdivision (a) of Section 16062, in any of the following circumstances: (8786), (a) To the extent the trust instrument waives the account, except that no waiver described in subdivision (e) of Section 16062 shall be valid or enforceable. (a) Except as provided in subdivision (b), the trustee of a revocable trust shall follow any written direction acceptable to the trustee given from time to time (1) by the person then having the power to revoke the trust or the part thereof with respect to which the direction is given or (2) by the person to whom the settlor delegates the right to direct the trustee.
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