Checklist: Gathering Asset Information After a Trust Settlor Dies

After the death of the settlor of a single-person revocable trust, one of the trustee’s first tasks is to gather the information required to properly administer the trust and inventory the trust’s assets. This checklist makes it much easier to get everything needed. Continue reading

No Means No for Successor Trustee of Special Needs Trust With No-Compensation Clause

trustee_99933680A trustee is entitled to compensation for services as provided in the trust instrument when the trust “provides for a trustee’s compensation” (Prob C §15680(a)), or “reasonable compensation” when the trust instrument “does not specify the trustee’s compensation” (Prob C §15681). But what if the trust provides for no compensation? In that case, the trustee is out of luck. Continue reading