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Trust Litigation Settlement Agreement

Walker Law Corporation Articles

Trust Litigation Settlement Agreement

A Trust Litigation Settlement Agreement is typically entered into between the Trustee and a beneficiary of the Trust or third-party creditor. The focus of this article is a Settlement Agreement between the Trustee and a beneficiary of the Trust. A Trust Litigation Settlement Agreement can be a vital tool in resolving undisputed issues such as any alleged breach of fiduciary duty on the part of the Trustee or the distributive share of the beneficiary. A Trust Litigation Settlement Agreement will eliminate some or all of the issues which will need to be decided through a trial and will result in less time and expense to both parties. Only matters which cannot be agreed upon need to be set for trial and decided by the Judge. Our aim as your attorney will be to resolve the uncontested issues to save you time and money and focus our time and your money on the issues which are in dispute. Any issues remaining will be brought before either the Los Angeles or Orange County Superior Courts under Probate Code Section 11700:

a) The superior court having jurisdiction over the trust pursuant to this part has exclusive jurisdiction of proceedings concerning the internal affairs of trusts.

(b) The superior court having jurisdiction over the trust pursuant to this part has concurrent jurisdiction of the following:

(1) Actions and proceedings to determine the existence of trusts.

(2) Actions and proceedings by or against creditors or debtors of trusts.

(3) Other actions and proceedings involving trustees and third persons.

Cal Prob Code § 17000 https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=PROB&division=9.&title=&part=5.&chapter=1.&article=

A key difference between a Civil Litigation Settlement Agreement and a Trust Litigation Settlement Agreement is that the Trustee owes numerous fiduciary duties to the Trust and/or the beneficiaries of the Trust including but not limited to the duty(s) of loyalty, impartiality, to avoid conflicts of interests, to control and preserve trust property, to make trust property productive, to keep trust property separate, to enforce claims, to defend claims and to use special skills. (See Probate Code §§ 16000 — 16015 https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=PROB&division=9.&title=&part=4.&chapter=1.&article=1.

In addition to the enumerated fiduciary duties the Trustee must administer the Trust with reasonable care, skill and caution under the circumstances as set forth in Probate Code § 16040:

(a) The trustee shall administer the trust with reasonable care, skill, and caution under the circumstances then prevailing that a prudent person acting in a like capacity would use in the conduct of an enterprise of like character and with like aims to accomplish the purposes of the trust as determined from the trust instrument

(b) The settlor may expand or restrict the standard provided in subdivision (a) by express provisions in the trust instrument. A trustee is not liable to a beneficiary for the trustee’s good faith reliance on these express provisions.

Cal Prob Code § 16040  https://codes.findlaw.com/ca/probate-code/prob-sect-16040.html

As such, a Trustee must negotiate any Settlement Agreement in good faith and should not seek to act partially for any reason. A Trustee will most likely be required by the terms of the Trust to obtain approval from any remaining Trust beneficiaries prior to entering into any binding Settlement Agreement. If you are a Trustee or beneficiary and would like to learn more about the negotiation procedures applicable to a Trust Litigation Settlement Agreement you should contact the Law Offices of Sam Walker. For more details or to consult with the Law Offices of Sam Walker regarding your specific situation please use our contact form to schedule a free 15-minute telephonic consultation.

Have Questions On Trust Litigation in Los Angeles and Orange County?

Long Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com

Newport Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com

Probate Litigation Settlement Agreement

Walker Law Corporation Articles

Probate Litigation Settlement Agreement

A Probate Litigation Settlement Agreement is typically entered into between the Executor/Administrator and a beneficiary of the Estate or third-party creditor. https://www.courts.ca.gov/8865.htm The focus of this article is a Settlement Agreement between the Executor/Administrator and a beneficiary of the Estate. A Probate Litigation Settlement Agreement can be a vital tool in resolving undisputed issues such as any alleged breach of fiduciary duty on the part of the Executor/Administrator or the distributive share of the beneficiary. A Probate Litigation Settlement Agreement will eliminate some or all of the issues which will need to be decided through a trial and will result in less time and expense to both parties. Only matters which cannot be agreed upon need to be set for trial and decided by the Judge. Our aim as your attorney will be to resolve the uncontested issues to save you time and money and focus our time and your money on the issues which are in dispute. Any issues remaining will be brought before either the Los Angeles or Orange County Superior Courts under Probate Code Section Prob. Code, § 850 as follows:

 

(a) The following persons may file a petition requesting that the court make an order under this part:

(1) A guardian, conservator, or any claimant, in the following cases:

(A) Where the conservatee is bound by a contract in writing to convey real property or to transfer personal property, executed by the conservatee while competent or executed by the conservatee’s predecessor in interest, and the contract is one that can be specifically enforced.

(B) Where the minor has succeeded to the interest of a person bound by a contract in writing to convey real property or to transfer personal property, and the contract is one that can be specifically enforced.

(C) Where the guardian or conservator or the minor or conservatee is in possession of, or holds title to, real or personal property, and the property or some interest therein is claimed to belong to another.

(D) Where the minor or conservatee has a claim to real or personal property title to or possession of which is held by another.

(2) The personal representative or any interested person in any of the following cases:

(A) Where the decedent while living is bound by a contract in writing to convey real property or to transfer personal property and dies before making the conveyance or transfer and the decedent, if living, could have been compelled to make the conveyance or transfer.

(B) Where the decedent while living binds himself or herself or his or her personal representative by a contract in writing to convey real property or to transfer personal property upon or after his or her death and the contract is one which can be specifically enforced.

(C) Where the decedent died in possession of, or holding title to, real or personal property, and the property or some interest therein is claimed to belong to another.

(D) Where the decedent died having a claim to real or personal property, title to or possession of which is held by another.

(3) The trustee or any interested person in any of the following cases:

(A) Where the trustee is in possession of, or holds title to, real or personal property, and the property, or some interest, is claimed to belong to another.

(B) Where the trustee has a claim to real or personal property, title to or possession of which is held by another.

(C) Where the property of the trust is claimed to be subject to a creditor of the settlor of the trust.

(b) The petition shall set forth facts upon which the claim is based.

(Prob. Code, § 850) https://california.public.law/codes/ca_prob_code_section_850

 

A key difference between a Civil Litigation Settlement Agreement and a Probate Litigation Settlement Agreement is that the Executor/Administrator owes numerous fiduciary duties to the Estate and/or the beneficiaries of the Estate. Probate Code Section 8502 sets forth the grounds for removal of an Executor/Administrator:

A personal representative may be removed from office for any of the following causes:

(a) The personal representative has wasted, embezzled, mismanaged, or committed a fraud on the estate, or is about to do so.

(b) The personal representative is incapable of properly executing the duties of the office or is otherwise not qualified for appointment as personal representative.

(c) The personal representative has wrongfully neglected the estate, or has long neglected to perform any act as personal representative.

(d) Removal is otherwise necessary for protection of the estate or interested persons.

(e) Any other cause provided by statute.

(Prob. Code, § 8502) https://codes.findlaw.com/ca/probate-code/prob-sect-8502.html

 

As such, an Executor/Administrator must negotiate any Settlement Agreement in good faith and should not seek to act partially for any reason. An Executor/Administrator will most likely be required by the Court or remaining beneficiaries to obtain approval from any remaining beneficiaries prior to entering into any binding Settlement Agreement. If you are an Executor/Administrator or beneficiary and would like to learn more about the negotiation procedures applicable to a Probate Litigation Settlement Agreement you should contact the Law Offices of Sam Walker.

Have Questions On Probate Administration in Los Angeles and Orange County?

Long Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com

Newport Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com

Family Court Settlement Agreement

Walker Law Corporation Articles

Family Court Settlement Agreement

A Family Court Settlement Agreement is typically referred to as an “MSA” or Marital Settlement Agreement. A Marital Settlement Agreement can be a vital tool in resolving undisputed issues such as Spousal Support, Child Support, Business Valuations, Asset Distributions and obligations for Marital Debts. A Marital Settlement Agreement will eliminate some or all of the issues which will need to be decided through a trial and will result in less time and expense to both parties. Only matters which cannot be agreed upon need to be set for trial and decided by the Judge. See-Divorce in California  Our aim as your attorney will be to resolve the uncontested issues to save you time and money and focus our time and your money on the issues which are in dispute.

A key difference between a Marital Settlement Agreement and a Civil Litigation Settlement Agreement is that the parties to a Dissolution of Marriage proceeding owe each other fiduciary duties. As a party to the Dissolution of Marriage proceedings you owe at a minimum the following fiduciary duties:

(b) Except as provided in Sections 143, 144, 146, 16040, 16047, and 21385 of the Probate Code, in transactions between themselves, spouses are subject to the general rules governing fiduciary relationships that control the actions of persons occupying confidential relations with each other. This confidential relationship imposes a duty of the highest good faith and fair dealing on each spouse, and neither shall take any unfair advantage of the other. This confidential relationship is a fiduciary relationship subject to the same rights and duties of non marital business partners, as provided in Sections 16403, 16404, and 16503 of the Corporations Code, including, but not limited to, the following:

(1) Providing each spouse access at all times to any books kept regarding a transaction for the purposes of inspection and copying.

(2) Rendering upon request, true and full information of all things affecting any transaction that concerns the community property. Nothing in this section is intended to impose a duty for either spouse to keep detailed books and records of community property transactions.

(3) Accounting to the spouse, and holding as a trustee, any benefit or profit derived from any transaction by one spouse without the consent of the other spouse that concerns the community property.

Cal Fam Code § 721

The significance of these fiduciary duties is that you must honestly disclose all of your financial interests including both community property and separate property. Failure to honestly disclose your financial interests if discovered by the opposing party can result in a Motion to Vacate and Set Aside the Marital Settlement Agreement and monetary sanctions.

Of course, there are limitations on the extent and scope of these fiduciary duties but those matters are beyond the scope of this article. For more details on the exact nature of the fiduciary duties which are applicable to your Dissolution of Marriage proceedings or to consult with the Law Offices of Sam Walker regarding your specific situation please use our contact form to schedule a free 15-minute telephonic consultation.

Have Questions On Family Law in Los Angeles and Orange County?

Long Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com

Newport Beach Law Office

Address: 444 W Ocean Blvd #800, Long Beach, CA 90802,
Phone: 714-943-2336
Email: sam@attorneysamwalker.com