How Can We Help? Call (415) 491-5000 Go to... Go to... CONSERVATORSHIP A conservatorship is a proceeding in the court system where the court appoints someone to be responsible for the care of another person’s living situation (conservatorship of the person) or their finances (conservatorship of the estate) or both when that person is unable take care of those aspects of their life themselves. Our firm represents both individuals and professional fiduciaries to help guide them in their actions as conservators. Conservators are subject to close scrutiny by the courts and must comply with strict rules regarding their activities. We provide experienced representation in this area. Please read our Article on ‘The Problem with Conservatorships’ on this website. OFFICE LOCATION San Rafael, CA Office 24 Professional Center Parkway Suite 120 San Rafael, CA 94903 Phone: (415) 491-5000 Email: kristi@fl-law.us RECENT NEWS & ARTICLES Choosing A Revocable Trust In California Selecting a Trustee Administering a Trust A Trustee’s Fiduciary Responsibility CONNECT WITH US: Facebook FindLaw Avvo Facebook © Froneberger & Leviloff | Legal | Login | Sitemap Law Firm Web Design by Designing Law

How Can We Help? Call (415) 491-5000 Go to... Go to... A TRUSTEE’S FIDUCIARY RESPONSIBILITY Previous Next Many people feel honored to be asked to serve as a trustee of a trust without realizing the responsibility it entails. A trustee has a legal relationship with the beneficiaries of a trust. This legal relationship imposes many duties and obligations on the trustee. Among these duties are the duty: to act with a high standard of care, to gather, manage and control the trust assets, of loyalty to all parties, to avoid a conflict of interest, to treat all beneficiaries equally, to carry out the terms of the trust, and to invest and manage assets in accordance with the terms of the trust and the law. A trustee must take care to avoid co-mingling the assets of the trust with the trustee’s own assets. A trustee must be prepared to report to the beneficiaries to keep them informed of the trust’s activities and a trustee generally will have a duty to account to the beneficiaries for the assets, the income, and the expenses of the trust. These are just a few of the many legal duties and obligations imposed on a trustee. We have prepared a guide for trustees to aid them in undertaking the administration of a trust. When we meet with clients that will administer a trust, we strive to explain the duties of a trustee and to guide them through the process of administering a trust. SHARE THIS Facebook Twitter LinkedIn Google +1 Email OFFICE LOCATION San Rafael, CA Office 24 Professional Center Parkway Suite 120 San Rafael, CA 94903 Phone: (415) 491-5000 Email: kristi@fl-law.us RECENT NEWS & ARTICLES Choosing A Revocable Trust In California Selecting a Trustee Administering a Trust A Trustee’s Fiduciary Responsibility CONNECT WITH US: Facebook FindLaw Avvo Facebook © Froneberger & Leviloff | Legal | Login | Sitemap Law Firm Web Design by Designing Law