Special duty of trust
If you have been named as an executor of an estate or the trustee of a trust, you have a special duty of trust and responsibility. You're required to act with the best interests of the beneficiaries in mind, and you must not intentionally do anything or make any decisions that could harm them.
A fiduciary also has to follow the probate code and must communicate honestly and openly with the beneficiaries, gather all property of the estate, and prepare an accounting of all property that passes through the estate.
It’s all in the details
If you are an executor or trustee, you may need to gather information, sell some assets, or pay some bills. You need to know where to find the information you'll need to get the job done. We’re talking about details here: where to find the checkbook, where to find the previous years' tax returns for comparison and so forth.
Further, if the estate for which you are an executor (or the trust for which you are a trustee) is taxable -- that is, if it's worth more than $3.5 million (or whatever the "estate tax exemption amount" is when the time comes) – you'll need to prepare an estate tax return, file it, and pay the taxes owed.
Simplifying complex "legalese"
We pride ourselves on our ability to explain the estate planning process to you in easy-to-understand language. Advanced estate planning techniques can be quite complex and tax-code driven. We understand that you want to fully grasp what we’re doing.
When you hire the Law Office of Janet L. Brewer, you work directly with her, not a novice or an associate with only a few months' experience. When you phone us with questions, we respond quickly.
Responsive, straightforward approach
If you want a responsive, straight-forward approach to choosing or being a fiduciary and you or your fiduciary lives anywhere in the greater San Francisco Bay Area, San Jose, Silicon Valley, or Santa Cruz County, you owe it to yourself and your heirs to phone Janet now. Please call (650) 325-8276 today or use the form at right to get in touch.