San Francisco

San Francisco

Wednesday, May 4, 2011

wikiprobate 3

Beneficiary Rights!

The trustee* has a duty of confidentiality.

The trustee must not put her interests above those of the trust or the beneficiaries, and should avoid conflicts of interest with the trust and the beneficiaries.

The trustee should try to avoid even the appearance of self-dealing or that she has placed her interests above those of the trust or beneficiaries.

The trustee should act impartially between the competing interests of the various beneficiaries.  The trustee should not favor a particular beneficiary.

Question for the trustee:  One beneficiary received in excess of $150,000, and the trustee decided the beneficiary need only pay back $23,000.  How was that decision in the best interest of all the beneficiaries?

* For purposes of wikiprobate 3, trustee shall be defined as Elizabeth Adler.