Any California trustee has specific responsibilities in relation to his or her duties. It is important for a trustee to be aware of what is necessary to properly administer the trust and avoid violation of laws.

Following the Uniform Prudent Investor Act is one of the most important aspects of service as a trustee. You must be aware of your responsibility to prudently invest. It’s a good idea to have an investor’s policy statement, which is an investment plan that has been created for you by a financial professional. You can then be sure to keep a review on this document to see how investments are performing.

While the law does not require that a trustee have an investor’s policy statement, when a trustee is challenged in court, it can look very questionable if that fiduciary has invested without one.

Someone you select as a trustee plays a very important role in distributing assets and managing the trust under the right direction. Make sure the person you select is interested in serving in that capacity and willing to do so. This person should also be an individual who can get along with your family members to minimize

A written plan helps to back up the fiduciary’s behavior and can also become instrumental in the event that a problem emerges in a trustee’s management. Consider scheduling a consultation with a trusted California estate planning attorney today to protect yourself thoroughly.

 

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