This document discusses financial scams that target the elderly population. Over 90% of elder abuse is committed by family members, and seniors lose $2.6 billion per year to scams. Scams disproportionately affect the elderly because they are more vulnerable, lack education, and value family. If preventative measures are not implemented, scams will continue rising due to technology. Various organizations and legislation aim to promote senior health, prevent scams, increase awareness, and protect the elderly.
The document discusses real estate litigation and disputes that often involve breaches of contract, leasing issues, bankruptcies, or professional misconduct. The litigation process begins with a complaint and summons delivered to the defendant requiring an answer to the court. If not resolved, the case proceeds to pre-trial conferences between the judge and lawyers. Real estate disputes can involve lenders, developers, brokers, and landlords. Experienced real estate litigators can help clients achieve their objectives in an efficient manner and represent various parties like secured lenders, borrowers, and landlords in state, federal, and alternative dispute resolution forums.
Embezzlement involves wrongfully taking money or property that has been entrusted to someone in a position of responsibility. It requires a fiduciary relationship where one party relies on the other, the defendant acquiring the property through that relationship, and intentionally taking or transferring the property for their own use. Common types of embezzlement include employees stealing from their employer and accountants manipulating records to hide theft of funds.
This document discusses how directors can be held personally liable for a company's unpaid taxes in the United States and Australia. It explains that the tax authorities in both countries have the power to issue Director Penalty Notices (DPNs) against directors to recover unpaid taxes. Upon receiving a DPN, directors have 21 days to pay the debt, appoint a voluntary administrator, or liquidate the company to avoid personal liability. Failure to comply with a DPN within 21 days exposes the director to personal liability for the debt and possible bankruptcy proceedings by the tax authority. The document also outlines two defenses directors can raise against a DPN - that circumstances prevented them from managing the business, or they took all reasonable steps to comply with the notice.
The devils are here .joe nocera and b. mc leanEmmanuel Nzeaka
This document provides background information on key figures involved in the financial crisis. It defines common financial terms like credit default swaps and derivatives. It then profiles several CEOs and executives, describing how some promoted risky subprime lending to expand homeownership but lacked oversight, while others ran firms like private fiefdoms and ignored signs of a looming mortgage bubble. It includes a quote from the poet W.B. Yeats suggesting the crisis may have been a harbinger of greater troubles to come.
This document summarizes asset protection strategies for physicians. It discusses how physicians are at high risk of creditors and lawsuits due to their occupation. It then outlines various solutions to manage this risk, including proper titling of assets, exemption planning, use of trusts, LLCs and partnerships to protect assets. It cautions that offshore trusts should not be used solely to avoid taxes or hide assets, as that may constitute fraud. Finally, it stresses that developing a comprehensive asset protection plan before creditors arise can help manage risks.
This document discusses financial scams that target the elderly population. Over 90% of elder abuse is committed by family members, and seniors lose $2.6 billion per year to scams. Scams disproportionately affect the elderly because they are more vulnerable, lack education, and value family. If preventative measures are not implemented, scams will continue rising due to technology. Various organizations and legislation aim to promote senior health, prevent scams, increase awareness, and protect the elderly.
The document discusses real estate litigation and disputes that often involve breaches of contract, leasing issues, bankruptcies, or professional misconduct. The litigation process begins with a complaint and summons delivered to the defendant requiring an answer to the court. If not resolved, the case proceeds to pre-trial conferences between the judge and lawyers. Real estate disputes can involve lenders, developers, brokers, and landlords. Experienced real estate litigators can help clients achieve their objectives in an efficient manner and represent various parties like secured lenders, borrowers, and landlords in state, federal, and alternative dispute resolution forums.
Embezzlement involves wrongfully taking money or property that has been entrusted to someone in a position of responsibility. It requires a fiduciary relationship where one party relies on the other, the defendant acquiring the property through that relationship, and intentionally taking or transferring the property for their own use. Common types of embezzlement include employees stealing from their employer and accountants manipulating records to hide theft of funds.
This document discusses how directors can be held personally liable for a company's unpaid taxes in the United States and Australia. It explains that the tax authorities in both countries have the power to issue Director Penalty Notices (DPNs) against directors to recover unpaid taxes. Upon receiving a DPN, directors have 21 days to pay the debt, appoint a voluntary administrator, or liquidate the company to avoid personal liability. Failure to comply with a DPN within 21 days exposes the director to personal liability for the debt and possible bankruptcy proceedings by the tax authority. The document also outlines two defenses directors can raise against a DPN - that circumstances prevented them from managing the business, or they took all reasonable steps to comply with the notice.
The devils are here .joe nocera and b. mc leanEmmanuel Nzeaka
This document provides background information on key figures involved in the financial crisis. It defines common financial terms like credit default swaps and derivatives. It then profiles several CEOs and executives, describing how some promoted risky subprime lending to expand homeownership but lacked oversight, while others ran firms like private fiefdoms and ignored signs of a looming mortgage bubble. It includes a quote from the poet W.B. Yeats suggesting the crisis may have been a harbinger of greater troubles to come.
This document summarizes asset protection strategies for physicians. It discusses how physicians are at high risk of creditors and lawsuits due to their occupation. It then outlines various solutions to manage this risk, including proper titling of assets, exemption planning, use of trusts, LLCs and partnerships to protect assets. It cautions that offshore trusts should not be used solely to avoid taxes or hide assets, as that may constitute fraud. Finally, it stresses that developing a comprehensive asset protection plan before creditors arise can help manage risks.
In the Parable of the Talents, neither the master nor any of the servants make any appeal to legal standards, but it seems improbable that there was no background set of rules against which the story played out. To the legal mind, the Parable thus raises some interesting questions: What was the relationship between the master and the servant? What were the servants’ duties? How do the likely answers to those questions map to modern relations, such as those of principal and agent? Curiously, however, there are almost no detailed analyses of these questions in Anglo-American legal scholarship.
In Civil Law, negligence refers to any failure to exercise reasonable care in one’s actions, resulting in injury or damage to another person or party. Negligence, the most common form of civil lawsuit, falls under the category of unintentional behavior, as opposed to intentional acts of harm.
McManus & McManus, P.A. is a law firm that specializes in wills, trusts, and estate law. The document provides answers to frequently asked questions about wills. A will is a written and signed legal document that outlines how a person wants their property distributed after their death. Anyone over 18 should have a will to avoid confusion and disputes among heirs. Jointly owned property will pass to the surviving owner, but a will is needed to designate heirs if both owners pass away. A will allows people to choose who oversees their estate and how minor children or those who cannot manage finances are provided for after death. Creating a will is often reasonably priced and provides benefits like reducing estate taxes and
State of Inactivity Rules and the Impact on Mutual Fund Shareholders WebinarNICSA
This document discusses unclaimed property laws and provides guidance for funds and fund service providers. It summarizes that all 50 states have unclaimed property laws requiring the reporting and remittance of abandoned property to the state after a set dormancy period. States are aggressively auditing holders to collect abandoned property, which can lead to large assessments. The document outlines specific issues funds and their service providers may face, such as determining who is responsible for remitting property, when property becomes reportable, required due diligence, and which state receives reported property. It recommends tools and resources to manage unclaimed property compliance and audit risks.
The document discusses various types of bail bonds offered by Orange County bail bond companies, including cash bail bonds, federal bail bonds, immigration bail bonds, and property bail bonds. It notes that as a co-signer for a bail bond, you take full financial responsibility for the bond amount and must pay forfeiture costs if the defendant fails to appear in court as required. It also outlines the obligations of the defendant to appear in court for all hearings and the process for the bond to be exonerated and guarantees returned once all court obligations are fulfilled.
The documentary explores the corrupt and lucrative bail bonds industry in California. It shows how some in the business prioritize profits over properly serving the legal system. The program takes viewers inside the dangerous world of bail bonds, where agents can profit by keeping people in debt for months or longer. It aims to shed light on the reality of how the business operates and its potential for abuse.
This document discusses bribery and anti-bribery laws and principles. It defines bribery as offering payment to persuade someone to betray their responsibilities. A bribe can be cash, favors, or anything valuable to the recipient. There is not always agreement on what constitutes a bribe. U.S. law prohibits bribing foreign officials for business, while prevailing global customs vary. The Business Principles for Countering Bribery provides a framework for companies, including prohibiting all forms of bribery and developing a program with clear anti-bribery policies consistent with relevant laws.
Bankruptcy chapter 7 lawyers in west virginiamcintirelaw
Our Wheeling Chapter 7 bankruptcy attorney can help assess your financial options and determine if filing for Chapter 7 bankruptcy is right for you. They are primarily concerned with protecting your rights, interests, and finances in the long run. A free case evaluation is available to discuss putting a stop to creditor harassment and obtaining a fresh start through the bankruptcy process.
The document discusses the history and importance of accountability. It traces how the era of distrust began in the 1960s-1970s due to social changes and media. This led to more litigation and victimization. In the 1980s-1990s, people became more dependent on social systems and outrageous lawsuits and defenses emerged. The document advocates for creating accountable organizations by focusing on transparency, honesty, credibility, integrity and trust. It provides definitions and importance of these qualities and references additional resources on the topic of accountability.
This document summarizes a presentation given by E. Andrew Keeney on current litigation risks for credit unions. The presentation covered trends in repossessions, ADA, FMLA, FCRA, and courtesy pay lawsuits. It also discussed class action litigation risks and how to reduce them, such as by promptly investigating issues, fixing mistakes, retaining class action counsel, and considering arbitration. The presentation further addressed bond and indemnification coverage, and concluded with best practices like thorough documentation, policy reviews, litigation holds, and monitoring reports to reduce litigation risks.
Corporate crime refers to criminal acts committed by individuals who have authority to act on behalf of a company, such as CEOs, managers, and directors. Examples include fraud, environmental damage, and labor exploitation. Corporate crime is driven by factors like a focus on profits, greed, lack of oversight, and weak regulations and prosecution. It is considered a white collar crime because it involves respectable high-status individuals abusing their power through business. Major corporate crimes that have occurred include environmental damage, fraud, antitrust violations, and financial crimes. Corporate crime can harm employees, consumers, and the environment. It has significant impacts and is increasingly being addressed through legislation, though corporations still wield strong lobbying power. Famous examples of corporate criminals
ACTEC Journal - Practical Guidance For Trustee Risk Managementlwolven
This document discusses the increasing risks and responsibilities faced by trustees. It notes that fiduciary litigation is on the rise as beneficiaries more frequently seek legal recourse for perceived wrongs. Even attorneys well-versed in fiduciary law are sometimes hesitant to take on trustee roles given the liability risks. The document outlines the duties and standards required of trustees, including acting with ordinary prudence. It also discusses scenarios where trustees can face liability, such as for environmental contamination on trust property or failing to identify imprudent investments.
McKonly & Asbury’s October webinar is brought to you by Bridgeford Trust Company! Modern trust laws, including directed trust, trust protector, and the newly created family advisor, have revolutionized the trust industry in the United States. During this webinar, David Warren, Chairman of the Board/Co-Founder of Bridgeford Trust Company and President/CEO of Bridgeford Advisors, will highlight how these modern progressive trust laws, found only in a handful of states including South Dakota, have drastically changed how trusts are created and administered, delivering far more control and direction to settlors of trusts, beneficiaries, and their advisors than ever before.
It is imperative that you understand what each fiduciary role encompasses and what should be considered when making a decision about whom to appoint. Learn more about fiduciaries in this presentation
This presentation considered newly enacted progressive trust laws within the overall context of the vital importance of selecting proper trust jurisdiction in the wealth planning process. Concepts such as the community property trust, dynasty trust, directed trust, trust protector, family advisor, privacy, and trust taxation were discussed in detail, with special focus on how these compelling modern trust planning tools have combined to render the United States both a worldwide tax and privacy haven for families across the nation.
The document discusses factors to consider when choosing between a personal trustee (such as a family member or friend) versus a professional trustee (such as an organization) to manage one's estate and wealth through a trust. It notes that while a personal trustee provides a personal connection, they may lack expertise in complex fiduciary responsibilities and trust management. A professional trustee has staff with expertise but lacks a personal relationship. The document provides questions to help evaluate whether a personal or professional trustee is a better fit in each situation.
The document discusses factors to consider when choosing between a personal trustee and a professional trustee to oversee an estate. It notes that while a personal trustee may provide a personal connection, they may lack experience in complex financial management. A professional trustee can provide impartial expertise but may treat clients impersonally. The document provides questions in each area to help evaluate which type of trustee would be a better fit based on the estate's needs, assets, beneficiaries, and duration.
Est. planning for us citizens living in the Philippines 3-22-14geann123
The document discusses estate planning issues for individuals with assets in both the United States and the Philippines. It summarizes key differences between probate estates and taxable estates, as well as inheritance laws and estate taxes in the two countries. The document also provides an overview of estate planning tools like wills, trusts, and beneficiary designations and how they can help achieve objectives like asset protection and avoiding probate.
How Are Debts Handled After Someone Dies in TexasSteve P. Mendel
Probate is the legal process that is typically required after a death to ensure that the decedent’s assets are identified, located, and eventually transferred to the rightful beneficiaries or heirs of the estate. Another important aspect of the probate process, however, is addressing debts of the decedent. Learn more about debts in Texas in this presentation.
The webinar will examine modern trust laws in the context of their impact on traditional notions of trust planning using irrevocable trusts. We will specifically discuss control mechanisms now available to planners, settlors of the trusts, and beneficiaries such as the directed trust, trust protectors, the family advisor and decanting and their dramatic impact on trust planning and the trust industry overall.
In the Parable of the Talents, neither the master nor any of the servants make any appeal to legal standards, but it seems improbable that there was no background set of rules against which the story played out. To the legal mind, the Parable thus raises some interesting questions: What was the relationship between the master and the servant? What were the servants’ duties? How do the likely answers to those questions map to modern relations, such as those of principal and agent? Curiously, however, there are almost no detailed analyses of these questions in Anglo-American legal scholarship.
In Civil Law, negligence refers to any failure to exercise reasonable care in one’s actions, resulting in injury or damage to another person or party. Negligence, the most common form of civil lawsuit, falls under the category of unintentional behavior, as opposed to intentional acts of harm.
McManus & McManus, P.A. is a law firm that specializes in wills, trusts, and estate law. The document provides answers to frequently asked questions about wills. A will is a written and signed legal document that outlines how a person wants their property distributed after their death. Anyone over 18 should have a will to avoid confusion and disputes among heirs. Jointly owned property will pass to the surviving owner, but a will is needed to designate heirs if both owners pass away. A will allows people to choose who oversees their estate and how minor children or those who cannot manage finances are provided for after death. Creating a will is often reasonably priced and provides benefits like reducing estate taxes and
State of Inactivity Rules and the Impact on Mutual Fund Shareholders WebinarNICSA
This document discusses unclaimed property laws and provides guidance for funds and fund service providers. It summarizes that all 50 states have unclaimed property laws requiring the reporting and remittance of abandoned property to the state after a set dormancy period. States are aggressively auditing holders to collect abandoned property, which can lead to large assessments. The document outlines specific issues funds and their service providers may face, such as determining who is responsible for remitting property, when property becomes reportable, required due diligence, and which state receives reported property. It recommends tools and resources to manage unclaimed property compliance and audit risks.
The document discusses various types of bail bonds offered by Orange County bail bond companies, including cash bail bonds, federal bail bonds, immigration bail bonds, and property bail bonds. It notes that as a co-signer for a bail bond, you take full financial responsibility for the bond amount and must pay forfeiture costs if the defendant fails to appear in court as required. It also outlines the obligations of the defendant to appear in court for all hearings and the process for the bond to be exonerated and guarantees returned once all court obligations are fulfilled.
The documentary explores the corrupt and lucrative bail bonds industry in California. It shows how some in the business prioritize profits over properly serving the legal system. The program takes viewers inside the dangerous world of bail bonds, where agents can profit by keeping people in debt for months or longer. It aims to shed light on the reality of how the business operates and its potential for abuse.
This document discusses bribery and anti-bribery laws and principles. It defines bribery as offering payment to persuade someone to betray their responsibilities. A bribe can be cash, favors, or anything valuable to the recipient. There is not always agreement on what constitutes a bribe. U.S. law prohibits bribing foreign officials for business, while prevailing global customs vary. The Business Principles for Countering Bribery provides a framework for companies, including prohibiting all forms of bribery and developing a program with clear anti-bribery policies consistent with relevant laws.
Bankruptcy chapter 7 lawyers in west virginiamcintirelaw
Our Wheeling Chapter 7 bankruptcy attorney can help assess your financial options and determine if filing for Chapter 7 bankruptcy is right for you. They are primarily concerned with protecting your rights, interests, and finances in the long run. A free case evaluation is available to discuss putting a stop to creditor harassment and obtaining a fresh start through the bankruptcy process.
The document discusses the history and importance of accountability. It traces how the era of distrust began in the 1960s-1970s due to social changes and media. This led to more litigation and victimization. In the 1980s-1990s, people became more dependent on social systems and outrageous lawsuits and defenses emerged. The document advocates for creating accountable organizations by focusing on transparency, honesty, credibility, integrity and trust. It provides definitions and importance of these qualities and references additional resources on the topic of accountability.
This document summarizes a presentation given by E. Andrew Keeney on current litigation risks for credit unions. The presentation covered trends in repossessions, ADA, FMLA, FCRA, and courtesy pay lawsuits. It also discussed class action litigation risks and how to reduce them, such as by promptly investigating issues, fixing mistakes, retaining class action counsel, and considering arbitration. The presentation further addressed bond and indemnification coverage, and concluded with best practices like thorough documentation, policy reviews, litigation holds, and monitoring reports to reduce litigation risks.
Corporate crime refers to criminal acts committed by individuals who have authority to act on behalf of a company, such as CEOs, managers, and directors. Examples include fraud, environmental damage, and labor exploitation. Corporate crime is driven by factors like a focus on profits, greed, lack of oversight, and weak regulations and prosecution. It is considered a white collar crime because it involves respectable high-status individuals abusing their power through business. Major corporate crimes that have occurred include environmental damage, fraud, antitrust violations, and financial crimes. Corporate crime can harm employees, consumers, and the environment. It has significant impacts and is increasingly being addressed through legislation, though corporations still wield strong lobbying power. Famous examples of corporate criminals
ACTEC Journal - Practical Guidance For Trustee Risk Managementlwolven
This document discusses the increasing risks and responsibilities faced by trustees. It notes that fiduciary litigation is on the rise as beneficiaries more frequently seek legal recourse for perceived wrongs. Even attorneys well-versed in fiduciary law are sometimes hesitant to take on trustee roles given the liability risks. The document outlines the duties and standards required of trustees, including acting with ordinary prudence. It also discusses scenarios where trustees can face liability, such as for environmental contamination on trust property or failing to identify imprudent investments.
McKonly & Asbury’s October webinar is brought to you by Bridgeford Trust Company! Modern trust laws, including directed trust, trust protector, and the newly created family advisor, have revolutionized the trust industry in the United States. During this webinar, David Warren, Chairman of the Board/Co-Founder of Bridgeford Trust Company and President/CEO of Bridgeford Advisors, will highlight how these modern progressive trust laws, found only in a handful of states including South Dakota, have drastically changed how trusts are created and administered, delivering far more control and direction to settlors of trusts, beneficiaries, and their advisors than ever before.
It is imperative that you understand what each fiduciary role encompasses and what should be considered when making a decision about whom to appoint. Learn more about fiduciaries in this presentation
This presentation considered newly enacted progressive trust laws within the overall context of the vital importance of selecting proper trust jurisdiction in the wealth planning process. Concepts such as the community property trust, dynasty trust, directed trust, trust protector, family advisor, privacy, and trust taxation were discussed in detail, with special focus on how these compelling modern trust planning tools have combined to render the United States both a worldwide tax and privacy haven for families across the nation.
The document discusses factors to consider when choosing between a personal trustee (such as a family member or friend) versus a professional trustee (such as an organization) to manage one's estate and wealth through a trust. It notes that while a personal trustee provides a personal connection, they may lack expertise in complex fiduciary responsibilities and trust management. A professional trustee has staff with expertise but lacks a personal relationship. The document provides questions to help evaluate whether a personal or professional trustee is a better fit in each situation.
The document discusses factors to consider when choosing between a personal trustee and a professional trustee to oversee an estate. It notes that while a personal trustee may provide a personal connection, they may lack experience in complex financial management. A professional trustee can provide impartial expertise but may treat clients impersonally. The document provides questions in each area to help evaluate which type of trustee would be a better fit based on the estate's needs, assets, beneficiaries, and duration.
Est. planning for us citizens living in the Philippines 3-22-14geann123
The document discusses estate planning issues for individuals with assets in both the United States and the Philippines. It summarizes key differences between probate estates and taxable estates, as well as inheritance laws and estate taxes in the two countries. The document also provides an overview of estate planning tools like wills, trusts, and beneficiary designations and how they can help achieve objectives like asset protection and avoiding probate.
How Are Debts Handled After Someone Dies in TexasSteve P. Mendel
Probate is the legal process that is typically required after a death to ensure that the decedent’s assets are identified, located, and eventually transferred to the rightful beneficiaries or heirs of the estate. Another important aspect of the probate process, however, is addressing debts of the decedent. Learn more about debts in Texas in this presentation.
The webinar will examine modern trust laws in the context of their impact on traditional notions of trust planning using irrevocable trusts. We will specifically discuss control mechanisms now available to planners, settlors of the trusts, and beneficiaries such as the directed trust, trust protectors, the family advisor and decanting and their dramatic impact on trust planning and the trust industry overall.
The document discusses factors to consider when choosing between a personal trustee or a professional trustee to manage one's estate. A personal trustee may provide a personal connection but they may lack expertise in complex trust management. A professional trustee can provide expertise through staff but may treat clients impersonally. Whittier Trust is presented as offering benefits of both by taking a personalized approach while also providing experienced staff and flexibility.
The most crucial obligation owed by an estate’s Personal Representative is reliability, both to the estate and to its beneficiaries. Each move made must be for the advantage of those people. A Beneficiary of an estate has the privilege to expect the appropriately named Personal Representative to entirely respect these obligations:
1. Confidentiality
Confidentiality is inherent in the obligation of loyalty. Data about the estate or its undertakings ought to never be revealed to unauthorized people.
As the United States has become both a tax and privacy haven, wealthy families from around the world are seeking U.S. trust solutions. This webinar examined various worldwide factors for this historic movement of money into the United States, including FACTA, CRS, secrecy vs. privacy, and asset protection. This presentation also considered and objectively compared U.S. trust jurisdictions, accentuating the vital importance of selecting the correct U.S. trust situs for international families. The presentation concluded with a discussion of various privacy, tax, and asset protection planning tools available to international families in the United States.
Preserving wealth for future generations – the benefits of a trustRichard Cayne Meyer
There are important points to understand about what actually happens to the control of assets once they are placed in trust. For more info, visit - http://www.richardcayne.com/richard-cayne-meyer/preserving-wealth-for-future-generations-the-benefits-of-a-trust/
This document provides an overview of trusts in South Africa. It discusses the legal nature of trusts and differences between inter vivos and testamentary trusts. It also covers ways to transfer assets into a trust, benefits of trusts like tax savings and asset protection, and disadvantages like loss of control. Additionally, it outlines the roles and duties of trustees, requirements for an independent trustee, types of beneficiaries, and taxation implications of trusts. The conclusion emphasizes ensuring an independent trustee, a compliant trust deed reviewed regularly, complying with statutory requirements, and coordinating a will with any existing trust.
The document discusses the role and responsibilities of a personal representative, who is appointed to carry out the directions in a will and settle an estate according to the deceased person's wishes. As a fiduciary, the personal representative has numerous legal and financial duties, including notifying beneficiaries, collecting assets, paying debts and taxes, and distributing the remaining estate. It is important to carefully choose a personal representative who has the time, skills, trustworthiness and willingness to take on these responsibilities.
This document provides information about executorship and probate. It defines what it means to be an executor and outlines the steps an executor must take, including obtaining probate, protecting assets, paying debts, and distributing the estate. The document notes that being an executor can be a complex and time-consuming role, and estates often take 9-12 months to finalize. It also discusses who can contest a will and considerations for an executor such as funeral arrangements, protecting assets, and accounting to beneficiaries.
The documents discuss the growing US national debt, mortgage securitization processes, and legal issues surrounding foreclosures. They describe how (1) the US national debt has increased by $1.73 billion per day, (2) the mortgage securitization process involves multiple parties and can enable predatory lending, and (3) judges have expressed concerns about whether mortgage lenders actually have the legal right to foreclose in many cases due to issues in securitization processes and documentation.
What are your rights when you're a beneficiary of a trust? What if you're NOT the trustee, but only the beneficiary, and you are having trouble getting information from the trustee. You see the trustee is responsible for administering the trust on behalf of the beneficiaries - not for themselves, unless the trustee also happens to be a (or one of) the beneficiaries too. Are they as beneficiary confusing their duty as trustee and vice versa.
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CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
The presentation deals with the concept of Right to Default Bail laid down under Section 167 of the Code of Criminal Procedure 1973 and Section 187 of Bharatiya Nagarik Suraksha Sanhita 2023.
3. Sensitivity: Confidential
IN THIS PRESENTATION WE WILL DISCUSS:
■ The difference between estate administration and trusts
in California
■ Factors that affect who to appoint or not to appoint as
trustee or executor
■ The role professional fiduciaries can play in handling an estate
■ Family dynamics as a possible cause of conflict
about inheritance
■ The duties that a trustee or executor takes on in their role
■ Common types of wrongdoing by executors or trustees
■ Legal options for challenges to such wrongdoing
4. Sensitivity: Confidential
ESTATE ADMINISTRATION IS A COURT-
SUPERVISED PROCESS FOR HANDLING THE
FINANCIAL AFFAIRS OF SOMEONE WHO HAS DIED.
Many Californians, however, choose to have their
property pass to heirs through a living trust. These trusts
allow for property to transferred without court
supervision.
5. Sensitivity: Confidential
CHOOSING THE RIGHT EXECUTOR OR TRUSTEE
DEPENDS ON MANY FACTORS.
Good organizational skills and judgment is important.
But it’s also important to recognize how sibling
rivalries or other family issues can affect the executor
or trustee’s work.
6. Sensitivity: Confidential
IN CALIFORNIA, BANKS ARE NOT THE ONLY WAY TO
INVOLVE A PROFESSIONAL FIDUCIARY.
There are also individual private professionals who are
certified by the state to act as fiduciaries.
7. Sensitivity: Confidential
UNRESOLVED FAMILY CONFLICTS OFTEN RESULT
IN DISPUTES OVER ESTATES AND TRUSTS.
For example, an adult child who takes on a large
caregiving role for a parent may feel entitled to a
greater share of the estate than other siblings.
8. Sensitivity: Confidential
A TRUSTEE OR EXECUTOR HAS MANY DUTIES.
These duties include handling the property of an
estate or trust effectively and distributing it to
beneficiaries fairly according to a will, a trust or under
intestacy laws.
Personal representatives of an estate are generally
bonded. Trustees generally are not.
9. Sensitivity: Confidential
COMMON TYPES OF WRONGDOING BY
FIDUCIARIES INCLUDE:
■ Embezzlement, fraud or theft from the estate or trust
■ Favoring one beneficiary over another
■ Wrongful expenditures and fees
■ Abuse of power
Such wrongdoing is more likely to happen with trusts than with
court-supervised estate administration.
10. Sensitivity: Confidential
LEGAL ACTIONS AGAINST WRONGDOING BY BOTH
EXECUTORS AND TRUSTEES ARE POSSIBLE.
These actions include:
■ Compelling an accounting of trust assets
■ Removal of a fiduciary
■ Injunction against prohibited use of trust funds
■ Lawsuit to hold a fiduciary personally liable for damages
11. Sensitivity: Confidential
LED BY FOUNDING ATTORNEY SHAWN KERENDIAN,
KEYSTONE LAW GROUP HAS HELPED HUNDREDS OF
CLIENTS RESOLVE CONFLICTS ABOUT TRUST OR
ESTATE ADMINISTRATION.
Mr. Kerendian and the team of
attorneys he supervises have the
specialized skills needed to hold
executors and trustees accountable
for wrongdoing that harms
beneficiaries.