What form would I need to challenge how my sister has handled my mother's trust?
Full Question:
Answer:
The type of form you would use depends on what grounds are in challenging a will, actions of an executor, trust, or actions of a trustee.
A trustee of an irrevocable trust in California acts as a "fiduciary" and has the responsibility to carry out the duties of a trustee as set forth in the law.; If the trustee fails to carry out these duties properly, the trustee is liable for any loss involved, may be liable for punitive damages, and may have to pay all legal fees and costs for the person bringing the legal action as well as the legal fees in defending the trustee. A trustee, if challenged, must prove what he or she did, that it was proper and that it was done for the good of the trust and the trust beneficiary or beneficiaries.
An "irrevocable" trust is one which cannot be changed or amended, except pursuant to a court order, which is difficult to obtain. Assets can still be invested, can be sold and purchased, and payments made to a beneficiary or beneficiaries in accordance with the provisions of the trust.
A trustee is not exempt under the law because he or she is the spouse or child of the trust creator. Although a husband may establish an irrevocable trust at death for his wife and the wife may be the trustee and beneficiary, the children, who receive the trust assets at their mother's death still have legal rights. They may demand an accounting, inquire as to investments, question payments of principal for their mother's health and support, and even bring a legal action against their mother for the claimed mismanagement of the trust. It is not unusual for a child or children to sue a parent or for a brother or sister to sue a sibling.
Probate is a legal process whereby a court validates the deceased person's will or determines that he or she died without a will. The court also appoints someone to handle the decedent's assets and pay the bills owed at death. That someone is referred to as an executor, administrator, or administrator with the will annexed, depending on the circumstances.
An additional purpose of probate is to see if anyone was owed money at the time of death that creditor can come forward and make a claim to receive payment. There is a fixed period of time for creditors to come forward and demand payment.
Along with the payment of debts, the probate process is designed to see that taxes are paid. Income taxes for the personal income tax return up to the date of death must be paid. Income collected during probate requires the filing of a separate estate income tax return and the payment of tax.If the decedent owned over $1,500,000 to $3,500,000 (depending on year of death) of assets at the date of death a federal estate tax return is required and the tax due must be paid within nine months of the date of death. Lastly, after all assets of the decedent are collected, assets are sold and taxes and debts are paid, then the executor or administrator must distribute the remaining assets in accordance with the decedent's will or the rules of intestate succession, if the decedent died without a will.