If you are the beneficiary of a trust and you believe the trustee is not investing the trust assets wisely, we can help you understand your legal options. California law and the terms of the trust document govern the actions of the trustee. Under California law, a trustee must act as a prudent investor when investing and managing the trust assets. The prudent investor rule provides as follows:
A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
It is important to take action when a trustee is failing to act as a prudent investor because such investments will lessen the amount of your distribution from the trust. You should immediately contact us so we can work to protect your rights as a beneficiary. We will help you review the trust document and request an accounting of the trust assets from the trustee. We can investigate the trustees experience and background in matters related to investing, finance or accounting. If it appears that the trustee is failing to act as a prudent investor, we can work with an investment expert to determine whether the trustees investment decisions are proper when considering the risk to the trust and return objectives. Finally, we can file an action against the trustee to protect your rights as a beneficiary. To set your appointment right away, please call us at: (714) 963-7543. You will not get the typical law firm feel from our office. We are different. Our systems are designed to save you time, to save you money, and to put you in control. At The Legacy Lawyers we are dedicated to your peace of mind.