In general terms it can be fairly difficult to remove a trustee. The whole point of the trust is to see the money handled in accordance with the grantor's instructions as set out in the trust. If she's done something wrong under the terms of the trust you may be successful in removing her.
The Timeline for Challenging a California Trust
Once a beneficiary or heir receives this notice, they have only 120 days to contest the trust. If they wait more than 120 days, their challenge will be dismissed without consideration, and they will be forever barred from attempting another contest.
At that stage, you're likely paying court fees to initiate a case as well as legal fees to one or more attorneys to argue the case in front of a judge. Depending on how long the case takes to revolve and the size of your legal team, you could easily end up paying thousands of dollars to remove a trustee.
The trustee must send a written notice to the beneficiary to vacate the real property. Under California law, if the beneficiary has been in possession of the property for less than a year, then a 30-day notice is sufficient. If they've been in possession for more than one year, then a 60-day notice is required.
Yes, a trustee can be suspended or removed without consent if they have committed a breach of trust or other misconduct. California Probate Code §15642 identifies the grounds for successfully removing a trustee in probate court.
A trust automatically terminates under California law when any of the following occurs: The term of the trust expires. The purpose of the trust is fulfilled. The purpose of the trust becomes unlawful.
How long does it take to remove a trustee? It can take up to a year or longer to remove a trustee from a trust. That said, if there are concerns that a trustee could cause harm to the trust while trustee removal litigation is taking place, then the court may suspend them until it can decide the case.
Amendment Costs: Modifying a trust incurs additional expenses. Amendments cost between $200 and $500 each time, depending on the attorney's rates and the complexity of the changes.
A trustee typically has the most control in running their trust. They are granted authority by their grantor to oversee and distribute assets according to terms set out in their trust document, while beneficiaries merely reap its benefits without overseeing its operations themselves.
Once assets are placed in an irrevocable trust, you no longer have control over them, and they won't be included in your Medicaid eligibility determination after five years. It's important to plan well in advance, as the 5-year look-back rule still applies.
Typically, a revocable trust with clear provisions for outright distribution might conclude within 12 to 18 months. However, in simpler cases, the process can take an average of 4 to 5 months without complications.
At the end of the payment term, the remainder of the trust passes to 1 or more qualified U.S. charitable organizations. The remainder donated to charity must be at least 10% of the initial net fair market value of all property placed in the trust.
While trustees may temporarily be able to delay trust distributions if a valid reason exists for them doing so, they are rarely entitled to hold trust assets indefinitely or refuse beneficiaries the gifts they were left through the trust.
Under California law, embezzling trust funds or property valued at $950 or less is a misdemeanor offense and is punishable by up to 6 months in county jail. If a trustee embezzles more than $950 from the trust, they can be charged with felony embezzlement, which carries a sentence of up to 3 years in jail.
Most trust deeds permit a change of trustee by way of a trustee resolution and entry into a deed of variation. A trustee resolution is a signed statement of the actions taken by the trustee. A change of trustee will usually require the consent of the appointor of the trust.
Here are two potential costs to consider: Simple amendments, like changing a beneficiary or trustee, can range between $300 to $500. More substantial changes, such as a complete restatement of the trust to reflect significant alterations, could exceed $2,000.
Depending on the complexity of the case, it may cost anywhere from a few thousand dollars to $100,000 or more to dispute the terms of a trust.
If you have an irrevocable trust, it is extremely difficult to make changes to it because the trust was set up to be permanent and not alterable. Most people, however, create a revocable living trust. A living revocable trust is designed to be flexible so you can make any change you want to it.
Any party with a reasonable interest in the trust—such as co-trustee or a beneficiary—must file a petition with the probate court requesting that it remove the trustee. If the court accepts the petition, they will schedule an evidentiary hearing.
At that stage, you're likely paying court fees to initiate a case as well as legal fees to one or more attorneys to argue the case in front of a judge. Depending on how long the case takes to revolve and the size of your legal team, you could easily end up paying thousands of dollars to remove a trustee.
After a trust has been created, a bank account is opened for the trustee to access the money when necessary. The trustee is the only party that can access this account. When they need money to fulfill their duties, they can use the account to write checks, withdraw cash, or complete wire transfers.
Aside from undue influence or lack of capacity, any Will or Trust not executed with the requisite formalities is invalid. Most states require the presence of two witnesses who watch the testator sign, all of whom sign in the presence of a Notary Public.
Terminating an irrevocable trust is an involved, formal process. Usually, all beneficiaries must consent to termination. In some cases, it may also require court approval depending on the type of trust, whether there are minor beneficiaries and the legal jurisdiction of the trust.