california probate code duties of trustee

You already receive all suggested Justia Opinion Summary Newsletters. (8731), (c) Except as otherwise provided in Section 16401, a trustee who complies with the requirements of subdivision (a) is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated. Section 16000 - Duty to administer trust. (3)Whenever a power of appointment retained by a settlor is effective or lapses upon death of the settlor with respect to an inter vivos trust which was, or was purported to be, irrevocable upon its creation. (8696), (b) If the settlor, in selecting the trustee, has relied on the trustee's representation of having special skills, the trustee is held to the standard of the skills represented. Cal. Oftentimes, conflict arises when a trustee interprets the settlors instructions differently than intended in cases like these, its about what the trust maker actually said, rather than what they intended to say. California law sets out a trustee's responsibilities, and the rules apply to every Trust and Trustee. California Estate Planning: Fiduciary Duties and - Lorman You can explore additional available newsletters here. (8700), (b) The settlor may expand or restrict the standard provided in subdivision (a) by express provisions in the trust instrument. There is an entire section of the Probate Code called the Uniform Prudent Investor Act (Probate Code sections 16045 to 16054). (8664), 16001. California Certificate of Trust Forms | Deeds.com / 2007 California Typically, a trust is put in place to help heirs receive their inheritances faster. (8721), (e) A trustee may invest in any kind of property or type of investment or engage in any course of action or investment strategy consistent with the standards of this chapter. (8682), 16006. You can petition the Court for other reasons, too.

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