Probate, Estate Planning and Trust Law
Law Offices of Alice A. Salvo  Law Offices of Alice A. Salvo
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April 2016 Archives

What is a breach of trust?

Those in Woodland Hills who have been asked to serve as trustees may be endowed with a significant amount of power regarding an estate’s assets. What happens if they abuse that power? As a beneficiary of a trust, you typically are required to respect the terms of the trust article regarding how assets are to be distributed. At the same time, you are also an interested party to the trust, and thus have a significant concern over how the actions of a trustee may influence your interest in it. Whether or she knows it or not, a trustee owes a duty of care to you. A violation of that duty could be justification for legal action.

Three tips to keep the peace during estate planning

For most of the world, the concept of family is as complex as it is comforting. Connected by lineage rather than some other frivolous method of selection, our families are important to us because they are typically the ones who care for us when we are sick, and the ones who will keep our legacies going once we pass away.

Understanding who qualifies as a professional fiduciary

Several Woodland Hills clients come to us here at The Law Offices of Alice A. Salvo claiming that those whom were entrusted with the management of an estate failed to uphold their fiduciary duty. If you also have such a complaint, then the first thing that you will want to establish is whether or not the person in question is considered by law to be a professional fiduciary. Knowing this will determine what sort of recourse you may have in holding that party responsible for his or her actions.

Dealing with trustee vacancies

For those Woodland Hills residents who want to retain as much control as they can over the administration of their estates, it is often recommended that they take the steps necessary during planning to avoid the probate process. One way to do this is to place one’s estate assets into a living trust. One of the most important aspects of creating a trust is to name another to serve as trustee. Yet one thing that a grantor should consider is what would happen if, for some reason, the role of his or her trustee were to be vacated.

Steinbeck estate says author’s children are derailing adaptations

Oftentimes, the estates of Los Angeles County residents will include more than just property and monetary assets. In some cases, they may contain the rights to copyrighted works. The management of those works may be entrusted to a single heir of the estate. This could end up causing contention if outside parties approach the manager of those works seeking the right to adapt to new content. If and when this new content becomes profitable, a debate may arise over how the estate’s portion of those profits should be shared. The potential of another estate beneficiary granting the unauthorized use of the decedent’s works may also become an issue.

Firm sues Michael Jackson’s estate for unpaid legal aid

One the main concerns that those who are asked to serve as executors to estates in Woodland Hills may have is dealing with the debts that a decedent leaves behind. The roles of the executor include identifying any outstanding liabilities and ensure that they are paid out of the estate’s assets. In the search for any debts that a deceased person still may owe, the issue of whether or not a debt account is actually valid may arise. If such a dispute does surface, the estate could become the target of a lawsuit from the creditor in question.