If your loved one has recently died and you have become a trustee, you need to watch this video to learn about the roles and responsibilities of a trustee. Southern California estate and probate lawyer Phillip Lemmons explains more about trustees’ responsibilities in this video.
If you have suddenly been placed into a position of being a successor trustee of your loved one’s trust, you need to understand that it is not an easy process. Being a trustee confers on you personal liabilities to beneficiaries. You are now considered a fiduciary and will have duties and obligations to perform in managing money. If you decide to do this alone, you can be held responsible for any mistakes you make along the way. The best thing to do is to contact a skilled estate lawyer who can assist you with the management of the trust and protect you legally. An attorney is paid out of the trust and not out of the trustees’ share. The Legacy Lawyers can assist you with this process to make sure that you will not be held financially responsible for any mistakes. Call Orange County estate lawyer Phillip Lemmons at (800) 840-1998 with your questions or to set up a free, no-obligation consultation. You can also view our free resources, articles, books, and frequently asked questions on our website www.thelegacylawyers.com to gain more knowledge about the process.