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I AM A BENEFICIARY AND I WANT TO REMOVE THE TRUSTEE: PART II

A “breach of trust” arises when a trustee violates any duty that the trustee owes the beneficiary. This is a broad definition, and can be either negligent, willful, and/or fraudulent depending upon the circumstances. What defines a “breach” may be circumscribed by the trust itself, but generally can, again depending on the circumstances, include actions such as failure to account, misappropriation of funds, failure to invest, threats to beneficiaries, failing to pursue legal action, commingling trust and personal assets, withholding copies of the trust or certain other information, failing to treat the beneficiaries fairly and impartially, mistakenly selling land held by the trust, selling shares owned specifically by a beneficiary, having private interests conflict with those of the trust, etc.

ESTATE PLANNING – NOT JUST WILLS AND TRUSTS : PART VI

E. Guardianship and Care of Your Minor Children

Another benefit of estate planning is the ability to choose WHO will care for your minor children, should you pass away before they become adults. In California, the name for a person or people designated to care for your children is “guardian” (which is sometimes confused with “conservator,” which deals with the care of adults).

A guardian’s duties are expansive.

ESTATE PLANNING – NOT JUST WILLS AND TRUSTS : PART II

A. Mental Incapacity and Your Finances (cont’d)
Incapacity planning can also include preparation of a durable power of attorney. Powers of attorney are discussed at length in our blog, here. Basically, a durable power of attorney allows another person, your “agent,” to make decisions for you, the “principal;” the scope of power that your agent has is set forth in the document that you sign granting them the power of attorney.

ESTATE PLANNING – NOT JUST WILLS AND TRUSTS : Part I

Estate planning is often associated only with very wealthy families and trust funds. While transferring wealth from one generation to the next is generally the brunt of estate planning, it’s far from the only purpose.

Planning for our own financial care once we lose the ability to handle our own finances, and for our health care decisions is an important part of estate planning.

LEGAL CAPACITY

In law, we often refer to one’s legal “capacity.” In this context, it refers to one’s mental capabilities. There are several levels of legal capacity, including but not limited to contractual capacity, testamentary capacity, and the capacity to marry.