March 08, 2019 | WealthManagement.com

California Court Resolves Long-Running Question on How to Calculate Trust Damages

1 min

On March 8, 2019, Alex Weingarten and Guido Toscano published "California Court Resolves Long-Running Question on How to Calculate Trust Damages" in WealthManagement.com. Here is an excerpt:

In California probate courts, an "850 Petition" allows you to transfer property into or out of a trust. 

The statute is itself geared to situations in which a decedent died before he could make the appropriate transfers to a trust and a certain amount of cleanup work is necessary to bring assets into the trust. An 850 Petition, however, becomes a very powerful tool when seeking to return assets that have been wrongfully taken from a trust. Among other remedies, California Probate Code Section 859 authorizes double damages for property taken in bad faith.