PDF Superior Court of California, County of Riverside The Big Five Trustee Duties | Albertson & Davidson, LLP 79. California Probate Code Section 16060 (8724), 16050. If the Grantor is Incapacitated California Probate Code Sec. Prob. Original Source: 2022 California Probate Code 6325 - (a) The court in which the In making and implementing investment decisions, the trustee has a duty to diversify the investments of the trust unless, under the circumstances, it is prudent not to do so. The trustee of one trust has a duty not to knowingly become a trustee of another trust adverse in its nature to the interest of the beneficiary of the first trust, and a duty to eliminate the conflict or resign as trustee when the conflict is discovered. That term "solely" really makes the pointthere can be no other reason to act when administering a Trust other than what's good for the beneficiaries. Identify Trust beneficiaries and determine their inheritance rights; Identify Trust creditors and debts and determine what valid creditor claims exist; and. , youll know when its necessary to seek proper legal action, effectively protecting your trust assets. California This is commonly seen with family members who are beneficiaries themselves, but appointed as trustees, allowing them to harm another beneficiarys interests for their own gain, if they so choose. (Subd (c) amended effective January 1, 2007; previously amended effective July 1, 2005.). (c)A trustee shall, for purposes of this section, rely upon any final judicial determination of heirship, known to the trustee, but the trustee shall have discretion to make a good faith determination by any reasonable means of the heirs of a deceased settlor in the absence of a final judicial determination of heirship known to the trustee. This can be done annually, when there is a change in the trustee, upon termination of the trust, or when ordered to do so by the court. If a trustee breaches these or any other of the duties imposed by the trust, common law, or the California Probate Code, the beneficiaries may have grounds to remove the trustee. On the request of a beneficiary, the trustee shall provide the terms of the trust to the beneficiary unless the trustee is not required to provide the terms of the trust to the beneficiary in accordance with Section 16069. With those principles in mind, consider some of the common fiduciary duties required of trustees under the California Probate Code: Following the trust language. Duties of a California Trustee - The Grossman Law Firm APC Any beneficiary who lacks legal capacity may be represented by the beneficiary's legal representative, attorney-in-fact under a durable power of attorney that is sufficient to grant the authority required under subdivision (c) or (e), as applicable, or in the absence of a legal representative or attorney-in-fact, a guardian ad litem appointed for that purpose.