Tag Archives: trustee

Don’t Leave Your Fiduciaries Floundering (Part 1)

Estate Planning Attorney Woodland HillsThe task of a fiduciary (e.g. executor, trustee or attorney in fact), when you are no longer around or able to provide guidance, can be a difficult one. He or she is charged with the job of gathering/marshalling all your assets. Effectively he or she is taking your place when you are unable to act or are no longer with us. To make that task easier, there are a number of things you can do. Here are some suggestions:

  1. Non-Legal Records. There are documents, in addition to the legal ones, that may also assist your legal representative. Consider adding a section called “Records” and include the following:
    1. Any information on pre-paid funeral or cemetery arrangements;
    2. A list of valuable assets (such as stocks/bonds, artwork, jewelry, collectibles) and their location (such as closet safe, freezer, lockbox under bed);
    3. Deeds for real estate holdings (residential, commercial or timeshares) with copies of related insurance policies;
    4. Continue reading

How to Protect your Digital Assets (Part 3)

Digital AssetsContinuing from our Blog series on Digital Assets, here are a couple ways you can protect you and your family:

Identify your digital assets
You can break them down into broad categories (email, domain, storage, finances, banking, stocks, bonds, securities, taxes, retirement, insurance, credit cards, debts, utilities, businesses, social, media, loyalty and other) and for each asset identify the username, password, account number and any other identifying information necessary to access the asset.

There are many sites to store this information or you can store it to a tangible media source (such as a DVD, portable hard drive or flash drive) or Continue reading

Will I Lose Control of My Assets That Are In The Trust?

NO! You will not lose control of your assets that are in the trust.

You will be the trustee of your trust during your lifetime.  You are able to buy, sell and borrow just as you were when your assets were held in your name as an individual.  Here is more information regarding setting up a trust.

If you still have questions, please contact our Trust Attorney in Los Angeles today to schedule a consultation.

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5 Tips for Trustees (Featured in California Lawyer Magazine)

Trusts have become popular estate planning tools, but they are traps for the unwary, and especially for an uninformed trustee. Whether it is designed to provide for family members, endow a charity, or manage real estate, the person who creates the trust (called the “trustor” or “settlor”) usually has specific wishes and demands and expects that they will be closely adhered to. It is the trustee’s duty to make sure that happens.

Being a trustee can be a thankless job; it can even thrust a person with good intentions into the crosshairs of litigation. If you are asked to serve, weigh your decision carefully – a trustee’s work may become both complicated and contentious. These tips may be helpful.

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