Taking control and being responsible for administering a trust can be an overwhelming task. The role of a trustee is a significant one. If you fail to fulfill your duties effectively and efficiently, you may be personally responsible for any errors made during the administration process. Beneficiaries will have the right to seek compensation for any resulting losses they experience by filing claims against you in a California civil court.
A trustee has many obligations to the trust. Such obligations are also known as fiduciary duties. What are these duties? How can an attorney help you fulfill your role? What can you do to protect yourself should something go wrong during trust administration?