Legal Question in Wills and Trusts in California

Re-Payment

We just received the final distribution but before we cash the checks, we have to sign the pre-payment agreement form. This form states that we will be responsible for paying the Trustee's fees and other court cost if one of the other beneficiaries want to sue the Trustee. How can we protect our assets and do we have to sign this form? A 1.2 million dollar estate, the Beneficiaries (8) ended up spliting 600K while the rest went to Lawyers, Trustee, etc.


Asked on 11/14/06, 9:44 am

2 Answers from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Re-Payment

Be sure that all beneficiaries sign the same form so there will be joint and several liability. The form is a routine document used in the final settlement.

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Answered on 11/14/06, 10:46 am
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Re: Re-Payment

Ouch, how did it happen that half of the estate went to costs and fees? I would look into that issue. Was an accounting demanded? Call me directly at 16192223504.

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Answered on 11/14/06, 2:12 pm


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