Are the Beneficiaries protected under a Revocable Living Trust?
A. With a Revocable Living Trust, the property will not necessarily be under the control of the Superior Court as it would be in a probate. Therefore, if you are concerned that the trustee may not properly perform his or her duties, you can build into the trust the protection you desire:*You can choose a corporate trustee, such as a bank or title insurance company. The disadvantage of this is that those institutions will charge a fee for their services, which will be an expense to your estate.*You can require the trustee to immediately request court supervision pursuant to the Probate Code. This will provide protection for the beneficiaries. The disadvantage is that this may make administration as expensive and time-consuming as a probate would have been.*You can make all or some of the beneficiaries co-trustees. This will create a checks and balances” system. However, it may make administration more difficult because more than one signature will be required in order to conduct transac
A. With a Revocable Living Trust, the property will not necessarily be under the control of the Superior Court as it would be in a probate. Therefore, if you are concerned that the trustee may not properly perform his or her duties, you can build into the trust the protection you desire: *You can choose a corporate trustee, such as a bank or title insurance company. The disadvantage of this is that those institutions will charge a fee for their services, which will be an expense to your estate. *You can require the trustee to immediately request court supervision pursuant to the Probate Code. This will provide protection for the beneficiaries. The disadvantage is that this may make administration as expensive and time-consuming as a probate would have been. *You can make all or some of the beneficiaries co-trustees. This will create a checks and balances” system. However, it may make administration more difficult because more than one signature will be required in order to conduct tran
