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Category: Trust

10
10 '18

Probate Code 16004.5: Release of Trustee’s Liability

The last steps in a trust administration include: Filing the final income tax return Obtaining an estate tac closing letter from the IRS Calculating and paying the trustee’s final compensation Preparing a...
02
11 '17

Electronic Wills: A Bad Idea From Across the Pond

Proposed Inheritance Law Update We are big fans of our brothers across the Atlantic—the pint, the pub, the pound, the princess. But every now and then, the British contrive an...
12
06 '17

The Limited Effectiveness of “No Contest” Clauses in California Trust & Estate Litigation

A “no contest clause,” according to California Probate Code section 21310(c), is “a provision in an otherwise valid instrument that, if enforced, would penalize a beneficiary for filing a pleading...
14
12 '16

Probate Code 15305: Support Creditor’s Claim Against a Spendthrift Trust

Many California living trusts contain a “spendthrift clause”— a clause designed to protect trust assets from claims made by a beneficiary’s creditors. Spendthrift provisions commonly include a “shutdown clause,” which...
16
11 '16

A Trustee’s Reasonable Reserve

In a trust administration, a “reserve” is money the trustee retains for a period of time after the trustee believes the trust administration is complete. The key here is the...