Trust Vanguard Legal Group to expertly manage and distribute your assets, protect your beneficiaries’ interests, and adhere strictly to the terms of your Trust.
A Trustor names a Successor Trustee in every Trust.
During a Trustor’s incapacity, the Successor Trustee will continue to use all Trust assets for the Trustor’s benefit, thus ensuring they remain at the same standard of living and comfort.
After a Trustor passes away, the Successor Trustee becomes the acting Trustee of the estate – meaning, they assume the responsibility to act ethically on the Trustor’s behalf according to the Trust.
Once a Trustor dies and the Successor Trustee assumes administrative control of the Trust, there are numerous responsibilities that the Successor Trustee must assume.
Below is a non-exhaustive list of the duties a Successor Trustee assumes upon the death of the Trustor:
When a Trustor has died, and the Trust is properly administered, the Successor Trustee must complete the responsibilities mentioned above.
Failure to do so is a violation of the terms of the Trust and can result in litigation. Litigation is a sophisticated way to say that another beneficiary on the Trust files a lawsuit. If this occurs, the Successor Trustee can lose the power to act on behalf of the Trust. Further, litigation can be as lengthy and costly as a Probate, resulting in a significant loss of Trust assets.
In cases when a Successor Trustee lacks the organizational, ethical, or practical abilities to administer the estate, a Trustor (before they die) or a Successor Trustee (after the Trustor has passed) may name a third party fiduciary to act on behalf of the Trustor.
A fiduciary is a person or entity required by law to act on your behalf, not their own. When you name a third-party fiduciary, this must be an individual or entity licensed with the State of CA to provide fiduciary services. All professional fiduciaries serve in their capacity for a fee.
Due to client demand, Vanguard Legal Group recently began offering Trustee Services exclusively to our existing clients. In this role, Vanguard Legal Group serves as a CA-licensed fiduciary and will execute the Trust requirements and distribute assets per the Trust language. Vanguard can navigate the intricacies of family relationships as an objective third party. We can distribute assets when they should legally occur based on CA Bar-licensed interpretations of the Trust.
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