4
SAN DIEGO OFFICE 525 B Street Suite 1500 San Diego, CA 92101 Phone: (619) 344-0600 Fax: (619) 764-4091 RIVERSIDE OFFICE 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 TEMECULA OFFICE 43537 Ridge Park Drive Suite 101 Temecula, CA 92590 Phone: (951) 461-8874 Fax: (951) 683-3948 (888) 443-6590 WWW.GROSSMANLAW.NET When Co-Executors Disagree When a decedent designates two executors for his/her will, the intent is usually to prevent fraud and poor decision-making in administering the estate. In addi- tion, the co-executors can share duties and responsibilities, taking some of the potential burden off each person. Not surprisingly, there is a possible downside to this arrangement, too. Disagreements and stalemates may crop up, which could bring the proceedings to a standstill. e logjam is most commonly broken in the following ways: If one of the executors is not firmly entrenched in their position, he/she may decide to back down, regarding the issue as not worth the hassle. As long as the proposed action to be taken does not violate any of the duties or obligations of the co-executors, and does not cause harm to the estate, its assets, or beneficiaries, it is a valid option. e decedent’s will may have listed a tie-breaking option. Some wills include a named third party to cast the tie-breaking vote in the event of a disagreement. is solution is not permitted unless the will specifically allows for it. e co-executors may need to take the matter to probate court. A probate judge will conduct a hearing whereby both co-executors will present their arguments. Aſter the hearing, the judge will issue a ruling. Both parties are obligated to comply with the court’s decision. Administering an estate does not always proceed as smoothly as one would hope. If you need guid- ance, contact the knowledgeable and experienced probate and trust attorneys at the Grossman Law Firm—(888) 443-6590. December 2014 IN THIS ISSUE PAGE 2 Juliet’s Corner PAGE 3 California Estate Administration and Safe-Deposit Boxes Celestial Rendezvous PAGE 4 Must Haves for Holiday Decorating!

December 2014 When Co-Executors Disagree · 2016-09-16 · 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 ... variety of widths, to tie

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Page 1: December 2014 When Co-Executors Disagree · 2016-09-16 · 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 ... variety of widths, to tie

SAN DIEGO OFFICE525 B Street Suite 1500

San Diego, CA 92101Phone: (619) 344-0600

Fax: (619) 764-4091

RIVERSIDE OFFICE6370 Magnolia Avenue

Suite 320Riverside, CA 92506

Phone: (951) 683-3704Fax: (951) 683-3948

TEMECULA OFFICE43537 Ridge Park Drive

Suite 101Temecula, CA 92590

Phone: (951) 461-8874Fax: (951) 683-3948

(888) 443-6590

WWW.GROSSMANLAW.NET

When Co-Executors Disagree When a decedent designates two executors for his/her will, the intent is usually to prevent fraud and poor decision-making in administering the estate. In addi-tion, the co-executors can share duties and responsibilities, taking some of the potential burden off each person.

Not surprisingly, there is a possible downside to this arrangement, too. Disagreements and stalemates may crop up, which could bring the proceedings to a standstill. The logjam is most commonly broken in the following ways:

• If one of the executors is not firmly entrenched in their position, he/she may decide to back down, regarding the issue as not worth the hassle. As long as the proposed action to be taken does not violate any of the duties or obligations of the co-executors, and does not cause harm to the estate, its assets, or beneficiaries, it is a valid option.

• The decedent’s will may have listed a tie-breaking option. Some wills include a named third party to cast the tie-breaking vote in the event of a disagreement. This solution is not permitted unless the will specifically allows for it.

• The co-executors may need to take the matter to probate court. A probate judge will conduct a hearing whereby both co-executors will present their arguments. After the hearing, the judge will issue a ruling. Both parties are obligated to comply with the court’s decision.

Administering an estate does not always proceed as smoothly as one would hope. If you need guid-ance, contact the knowledgeable and experienced probate and trust attorneys at the Grossman Law Firm—(888) 443-6590.

December 2014

IN THIS ISSUE

PAGE 2

Juliet’s Corner

PAGE 3

California Estate Administration and Safe-Deposit Boxes

Celestial Rendezvous

PAGE 4

Must Haves for Holiday Decorating!

Page 2: December 2014 When Co-Executors Disagree · 2016-09-16 · 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 ... variety of widths, to tie

Julie

t’s c

orn

er

Birthdays and Pop Culture Coll ide

Scott turns 50 this month! Our birthdays are one week apart and I am having fun looking up pop culture stats from the years we were born.

Did you know that in 1964, when Scott was born, a first class stamp was five cents? By the time I was born in 1969 inflation had raised postage to six cents.

When Scott was born, Lyndon Johnson was in the White House. The Oscar for Best Picture went to Tom Jones, and the Grammy for Song of the Year was Days of Wine and Roses, by Henry Mancini.

When I arrived a few years later, Richard Nixon was in the White House, the Best Picture Academy Award went to Oliver! and the Grammy for Song of the Year was Little Green Apples by Bobby Russell. (Patti Page later recorded it for a country album, too.)

The population of the earth more than doubled between Scott’s birth and today.

1964 population: 3.276 billion 1969 population: 3.631 billion 2014 population: 7.1 billion

Baby Scott arrived in the year the Beatles appeared on Ed Sullivan and the Rolling Stones made their American debut on The Hollywood Palace, and the British Invasion had begun. As for the Beatles, an estimated 73 million people watched their Ed Sullivan debut, a record at the time. The year 1964 would also mark the debut of television shows such as Peyton Place, Bewitched, The Munsters, and Gomer Pyle.

In my birth year of 1969, Sesame Street was introduced. Neil Armstrong and Buzz Aldrin walked on the moon. The Brady Bunch premiered, and in other TV news, Dick York collapsed on the set of Bewitched and was replaced by Dick Sargent. And just in case old timers claim TV was classier back then, just remember that 1969 was also the year Tiny Tim got mar-ried on the Tonight Show! Juliet

Scie

nce

9. Set Your Own Style. Make your tree an integral part of your decorating scheme and a reflection of your personality. Are antique toys a personal passion? Then decorate the tree with miniature wooden versions. Are you a dedicated beachcomber? Attach some of your favorite shells to the tree with simple grosgrain ribbon.

10. Wrap It Up With Ribbon. Ribbon can be used for much more than wrapping presents. Use French wire ribbons, in a variety of widths, to tie bows on your trees. Or instead of a garland or greenery, wrap your banister with ribbon. You can also hang holiday cards from a mantle or shelf using narrow ribbons in holiday colors.

Vanessa Banks, Decorating Den Interiors • Team Banks Interiors • 951.541.2695 • VanessaBanks.DecoratingDen.com

“Must Haves for Holiday Decorating! Part 2“ Continued from page 4.

Page 3: December 2014 When Co-Executors Disagree · 2016-09-16 · 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 ... variety of widths, to tie

California Estate Administration and

Safe-Deposit BoxesA decedent’s safe-deposit box may be a treasure trove of financial information…perhaps even the holder of a will or trust. As administrator/executor of the estate, these documents may be of keen interest, but seek guidance from an experienced probate attorney before trying to access the box—to avoid exposure to liability. If the box is in the decedent’s sole name, and if you have a key, the following conditions apply:

1. You may gain access by providing proof of death of the decedent and reasonable proof of your identity. 2. The financial institution housing the safe-deposit box has no legal duty to inquire into the truth or validity of the proof

you provide.3. After receiving the proof, the financial institution will permit you to open the box under the watchful eye of one of their

officers or employees.4. The financial institution is required to keep a record of your access to the box.5. You will be permitted to make a photocopy of any will, trust instrument, or burial instructions found in the box. You

may take the originals and leave behind photocopies. Other contents may not be removed until probate letters have been issued.

6. Deliver the original documents to the probate court, and send copies to the beneficiaries.

If the person seeking access to the safe-deposit box does not have a key, he/she must obtain “letters testamentary” from the probate court to gain the desired access.

Administering an estate requires the guidance of experienced probate and trust attorneys. Call the Grossman Law Firm at (888) 443-6590 to protect your rights.

Scie

nce

Celestial RendezvousComets are wild steeds of the night skies, and now the European Space Agency (ESA) has lassoed one.

In March 2004 the ESA launched a comet orbiter (Rosetta) that carried with it a probe (Philae). Rosetta rendezvoused with Comet 67P in August 2014, becoming the first craft in history to orbit a comet. Then it outdid itself by shooting the Philae probe toward 67P, which became the centerpiece of the first controlled landing of a spacecraft on a comet.

Why would the ESA invest 10 years in landing a probe on a chunk of rock barely 2.5 miles in diameter over 310 million miles away?

The mission’s purpose is to shed some light on the origins of our solar system: its condition at infancy, how it evolved, and the role that comets play, for starters. Scientists also hope to get a smidgen closer to answering the question “Are we alone?”

To that end, Philae is equipped to measure various physical properties of the comet; send photos of the surface; search for complex organic molecules; and research how comets interact with the energy blasted into space by the sun.

Not everything was peachy with Philae’s arrival. Its anchoring harpoons did not deploy, leading to a somewhat bouncy landing, and Philae touched down in the shadows beneath a cliff, which isn’t the ideal landing spot for a craft that relies on solar power, threatening the mission’s longevity.

But the positives far outweigh the negatives. A few glitches can’t put a damper on what this mission has achieved.

Page 4: December 2014 When Co-Executors Disagree · 2016-09-16 · 6370 Magnolia Avenue Suite 320 Riverside, CA 92506 Phone: (951) 683-3704 Fax: (951) 683-3948 ... variety of widths, to tie

525 B St #1500

San Diego, CA 92101

Phone: (619) 344-0600

Fax: (619) 764-4091

(888) 443-6590

WWW.GROSSMANLAW.NET

This newsletter is intended to educate the general public about probate, trusts, wills, and other issues. It is for information purposes only and should not be construed as legal advice. Prior to acting on any information contained in this publication, you should consult with experienced, competent counsel regarding your specific situation.

Desig

n T

ips

from

Vaness

a B

anks

Must Haves for Holiday Decorating! Part 2 (continued from last month’s issue)

The holidays are fast approaching, and it’s not too early to start enhancing your holiday décor. For inspiration, here are several more “must haves” to inspire your creativity!

6. Be My Guest. Is your guest room ready for holiday guests? Is there a luggage stand and/or space in the closet? Are there plenty of pillows? Is the bedside table big enough to accommodate a lamp, reading materials, and a carafe of water? Don’t forget the little extras such as fresh fruit, potpourri, and a basket of toiletries. And be sure to include a few holiday touches like greenery or a small gift.

7. The Wonder of Wreaths. Whether you prefer wreaths made of natural materials or some of the lovely permanent florals on the market today, wreaths are an absolute must for any holiday home. In addition to their traditional place on the front door or over the mantle, smaller wreaths can be used as curtain tiebacks or napkin rings

8. Festive Fruits and Vegetables. Visit the produce aisle of your grocery store for unique holiday decorations. For example, spray-paint walnuts and gourds in silver of gold and display them in a decorative basket. Or fill a large crystal bowl with red and green apples.

Continued on page 2.

Season's Greetings from the Grossman Law Firm. Wishing

you and your family the very best this

holiday season and in 2015!