San Francisco

San Francisco

Thursday, June 23, 2011

Grounds for Removal of a Trustee!

Probate Code 15642(b) states a trustee may be removed for any good cause including, but not limited to, any of the following reasons:
Breach of Trust…Guilty!
The Trustees failure to act or declining to act….Guilty!
Excessive compensation…Guilty!
Wonder what duty is breached when a trustee lies and perjures themselves?
A statement that claims against the trustee for breach of trust may not be made after 3 years from receipt of a report or account disclosing facts giving rise to the claim.
3 years…GOTCHA!