Legal Question in Wills and Trusts in California

In general, an executor of an Estate in Probate or a Trustee of a trust have the highest fiduciary duty towards the beneficiaries of the Estate or Trust. This includes carrying out the wishes expressed in the trust or will; collecting and managing the assets and making distributions to the beneficiaries. There are tax filings, possible court filings. Depending on the size of the trust, you may need to work withvarious professionals - a CPA, attorneys, investment advisors, etc... You really should spend some time meeting with a local attorney who can assist you because breaching any of your duties could result in personal liability to heirs or beneficiaries.

In general the executor, or the trustee of a trust, are charged with assembling the assets of the estate or trust, paying all proper expenses (including, but not limited to, estate and income taxes) and distributing the assets in accordance with the terms of the document. Beyond that, it is difficult to say with any percision as each document is different and, thus, requires different things of the executor or trustee. As Mr. Feldmon notes, an executor or trustee has the highest fiduciary duty to the beneficiaries of the estate or trust. because of the potential complexities, it is highly recommended that you consult with an attorney, if only briefly, to be sure that you properly discharge your duties. The fees incurred with such an attorney are generally chargable to the estate or trust.

I hope this helps.

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