At the conclusion of a trust administration, trustees sometimes ask beneficiaries to acknowledge receipt of their final distribution and release the trustee of liability.  While seeking a release is permitted under California Probate Code Section 16004.5, the release must be given voluntarily by the beneficiary.  This article discusses Section 16004.5 in the context of Bellows…

What To Do To Make Your Passing Financially Sound Clients typically consider their estate planning at three predictable junctures in their lives: when they first have children and are concerned about who will raise them if “something happens” when their children are grown and need to be named as successor trustees when they are old,…

With over 300 million guns in the hands of private citizens in America, it’s not surprising that California trustees often find themselves in the possession of firearms belonging to a deceased settlor, with the responsibility to safeguard them pending the transfer to the beneficiaries. Who’s Responsible? Anyone, including a fiduciary, can be liable for transferring…

Edge #1 The current litigation involving billionaire media magnate Sumner Redstone illustrates the point.  Mr. Redstone, age 93, owns about 80 percent of CBS and Viacom—reportedly a $40 billion media empire.  In November 2015, Mr. Redstone’s former “companion,” Manuela Herzer, challenged Mr. Redstone’s mental capacity in Los Angeles Superior Court.  Ms. Herzer alleged that Mr….

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