• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • Areas We Serve
      • Riverside County
        • Banning
        • Corona
        • Eastvale
        • Hemet
        • Menifee
        • Moreno Valley
        • Murrieta
        • Norco
        • Perris
        • Sun City
      • San Bernardino County
      • Orange County
      • Los Angeles County
      • San Diego County
    • Attorney and Staff Profiles
    • Our Reviews
    • Review Us
  • Elder Law
    • Conservatorships
    • Crisis Planning
    • Estate Planning for the Elderly and Chronically Ill
    • Planning for Long Term Medi-Cal
    • Planning for Veteran’s Aid and Attendance
  • Estate Planning
    • Advanced Estate Planning
      • Asset Protection Lawyer
      • Business Succession Planning
      • California Gun Trust
      • Charitable Planning & Philanthropy
      • Trustee Services
    • Estate Planning Service
    • LGBTQ+ Estate Planning
    • Married Couples Estate Planning
    • Persons with Large Retirement Accounts
    • Pet Planning
    • Special Needs Children
    • Special Needs Trusts
    • Trust Administration
    • Unmarried Couples Estate Planning
    • Unmarried Individuals Estate Planning
  • Probate
  • Will & Trust Contests
    • Conservatorship Contests
    • Probate Litigation
    • Tax Controversy and Tax Planning
    • Trust Litigation
    • Will Contests
  • Resources
    • Riverside, California Elder Law Resources
    • Docubank
    • Downloadable Handbooks
    • Elder Law
      • Elder Law Resources
    • Estate Planning, Elder Law and Tax Law Articles
    • Free Report – Able Account or Special Needs Trust
    • Free Report -Constructing Your Revocable Trust
    • Probate and Trust Administration
      • Bereavement Resources
    • Speaking Engagements
    • Useful Estate Planning, Elder Law and Tax Links
    • Webinars
  • Ask Dennis
  • Webinars
    • Webinar Recordings
    • Upcoming Webinars
  • Blog
  • Contact Us

Inland Empire Estate Planning Attorneys

Sandoval Legacy Group, a division of Holstrom, Block & Parke, a Professional Law Corporation

Connect with us today(855) 513-9876

Text Size A A A
LIVE WEBINARS REGISTER TODAY>>
Home » Protecting Beneficiaries’ Interests: California Trustee Obligations

Protecting Beneficiaries’ Interests: California Trustee Obligations

May 17, 2023Estate Planning, Trusts

It is important to understand what a trustee is and what his or her role is if you are considering setting up a trust or are a beneficiary of one. A trustee is a person or organization that is appointed to manage assets or property on behalf of another person or organization. The trustee is responsible for administering the assets according to the terms of a trust agreement.

The role of a trustee can vary depending on the type of trust and the specific responsibilities outlined in the trust agreement. Some common duties of a trustee include investing and managing trust assets, distributing income or principal to beneficiaries, filing tax returns, and keeping accurate records of all trust transactions.

Additionally, trustees are often appointed in situations where beneficiaries are unable or unwilling to manage their own assets–such as minors, individuals with disabilities, or beneficiaries who may be going through a difficult time. Trustees can be individuals (such as family members or trusted friends) or professional organizations (such as banks or trust companies).

California trustees are responsible for the following duties:

The Duty to Inform and Account

It is the trustee’s responsibility to keep beneficiaries informed about the trust property and how it is managed. A formal accounting must also be provided to the beneficiaries at least once a year. The accounting should include all income and expenses related to the trust assets.

Duty to Follow the Terms of the Trust Agreement

 The trustee must follow the terms of the trust agreement when managing trust property. This includes carrying out any specific instructions that are laid out in the agreement. For example, if the trust agreement says that certain assets must be sold by a certain date, then it is the trustee’s responsibility to make sure that this happens.

The Duty of Loyalty

Trustees must act in the trust and beneficiaries’ best interest at all times. Trustees cannot use trust assets for their own benefit. For example, trust funds cannot be invested in a way that results in a personal profit for the trustee.

The Duty of Care

Trust property must be managed with care by the trustee. Trust funds should be invested in a way that preserves capital and grows income. It is also important for the trustee to insure valuable assets in order to protect trust property from loss.

How Beneficiaries Can Navigate Trustee Obligations in California and Seek Legal Action

California trustees are required to perform several important duties. It is crucial that you choose someone who you can trust to fulfill the trust’s duties if you are considering setting up one. A knowledgeable estate planning attorney can help you select an appropriate trustee and draft a comprehensive trust agreement. If you are a beneficiary of a trust and you believe that your trustee is violating their duties, you may have legal recourse.

Overall, an attorney can play a crucial role in appointing the right trustee for a trust by providing legal guidance, identifying potential trustees, evaluating candidates, and drafting appointment documents.

How We Can Help

We know discussing end-of-life plans can be difficult, but we approach this delicate conversation with respect and dignity. Our estate planning services cover all areas of elder law & probate based on your specific financial & health situation. If you have additional questions or concerns regarding your estate plan, probate, special needs planning, or advanced tax planning, attorney Dennis M. Sandoval and the Sandoval Legacy Group team is ready to assist you.

Southern California’s Premier Elder Care Law Firm

If you have additional questions or concerns regarding your estate plan, elder or tax law, or probate, contact the experienced and trusted team at Sandoval Legacy Group, A division of Holstrom Block & Parke, A Professional Law Corporation, by calling (888) 513-9876 to schedule an appointment. No other law firm in Southern California has the knowledge and experience relating to estate planning, special needs planning, elder care, probate, conservatorships, business succession planning, tax planning, and trust administration as our lawyers and paralegal staff.

Have a question? Ask Dennis.
















  • Author
  • Recent Posts
Taryn Holstrom
Latest posts by Taryn Holstrom (see all)
  • Protecting Beneficiaries’ Interests: California Trustee Obligations - May 17, 2023
  • Who should be your Trustee? - April 12, 2023
  • Watching Out for Elder Abuse - June 14, 2022

Other Articles You May Find Useful

Who should be your Trustee?
Watching Out for Elder Abuse
What It Means To Die Intestate
Southern California Estate Planning Attorneys
Can You Claim the Credit for Other Dependents?
Southern California Estate Planning Attorneys
Estate Planning With Big Age Gaps
The Importance of Estate Planning for Unmarried Couples

VIEW RECORDED WEBINARS

“How To Create a Peace of Mind Out of Chaos” Recorded Wednesday, September 16 @ 11AM WATCH NOW

Inland Empire Estate Planning Attorney

Inland Empire Estate Planning Attorney

BLOG SUBSCRIPTION

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • YouTube

Where We Are

Sandoval Legacy Group, A Professional Law Corporation

See Larger Map Get Directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM

Friday by appointment only

Map

4300 Latham St., Riverside, CA 92501
SLG Riverside Office | 4300 Latham St., Riverside, CA 92501  •  Corona | 1897 California Ave., Ste. 102, Corona, CA 92881  •  Newport Beach | 4940 Campus Dr., Ste. A, Newport Beach, CA 92660  •  Temecula | 40810 County Center Drive, Ste. 150, Temecula, CA 92591  •  Riverside | 3780 12th Street, Riverside, CA 92501  •  San Diego | 3110 Camino Del Rio S., Ste. 308, San Diego, CA 92108  •  Vista | 380 S. Melrose Dr., Ste. 347, Vista, CA 92083

  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect To Us

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
footer-logo

© 2023 Sandoval Legacy Group
A division of Holstrom, Block & Parke,
A Professional Law Corporation.
All Rights Reserved.