Trust Administration and Litigation Lawyer, Mina Sirkin advises clients regarding the most important aspects of estate planning and trust administration in preventing litigation in Los Angeles, California.
Some of the most important aspects of trust administration involve preventative actions by the trustee or successor trustee of a trust which reduce risks of litigation. Many beneficiaries believe that their needs are not being addressed by the successor trustee. Some of those needs are easily identified by the trustee by simply conducting a survey of the beneficiaries at the start of administration.
For example, a trustee who is in the process of trust administration, may want to ask the beneficiaries the following:
1. Do you want the trustee to sell the trust property?
2. What do you think is a reasonable price for the sale of the trust assets?
3. What is your expectation of the time it takes to distribute the trust's assets?
4. What is your expectation of the cost of administering the trust?
By conducting a survey, the trustee can gauge his or her actions in line with beneficiaries' expectations and avoid possible conflicts by early mediation or a vote of beneficiaries on issues which may result in conflict.
Mina N. Sirkin is a Trust Administration and Litigation Lawyer in Los Angeles, California. She is Certified as a Specialist Lawyer in Trust Law, Probate and Estate Planning in Los Angeles, California. 818-340-4479. [email protected]. http://www.SirkinLaw.com
Comments