Legal Question in Wills and Trusts in California
My grandfather passed away four years ago. There was a Will and a Trust. My brother and I inherited my deceased fathers portion of the inheritance. Since my grandfathers death some of the descendents have not been told what is what and only certain people are told what is going on. My uncle who is in charge of the family company has been buying houses, cars, bikes, property, etc. and no one knows where he is getting all of the money to purchase all of these items. I would like to know if there is any way that I could find out if I could "take over" the daily management from my uncle.
2 Answer from Attorneys
A trustee has a duty to provide information about the assets and liabilities to the beneficiaries. This includes an annual accounting to all the beneficiaries currently entitled to income and principal. You, as a beneficiary can demand an accounting under the Probate Code. If one is not provided within 60 days then you can petition the court for an accounting and suspension of powers or removal. If you do get an accounting and it appears that the trust assets were not properly managed, then you can also file a petition for removal.
As to who can act as the successor trustee, that depends on what the trust says.
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