Trusts and Estates
Ca. Trs. & Estates Quarterly 2015, Volume 21, Issue 1
Content
- Application of the Harmless Error Doctrine In California and Beyond
- Nonprobate Transfers: Considerations For Estate Planning and Administration
- The Passport To Relief: the Court's Power To Excuse Trustee Liability
- When a Psychotherapist Dies or Becomes Incompetent, Time Is of the Essence and Patient Privacy Is Paramount
- Considerations Related To the Operation or Reorganization of a Business By a Trustee During Administration
CONSIDERATIONS RELATED TO THE OPERATION OR REORGANIZATION OF A BUSINESS BY A TRUSTEE DURING ADMINISTRATION
By Jenny Hill Bratt, Esq.,* and Karl F. Mill, Esq.*
I. INTRODUCTION
While it is not uncommon to encounter a trust administration involving business assets, there are some common elements that often and unintentionally go unaddressed by practitioners.1 One such issue is the scope of the trustee’s power to operate a business. As practitioners counseling trustees, attorneys should be aware of the relevant issues, and prepared to advise their clients about the risks of operating a business as the trustee without authorization in the trust instrument or court approval.