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General terms
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Guardian – can provide a guardian for a minor in a will, trustee as guardian for their finances, and guardian for the person of the minor [not adoption or foster care, but looking over their well-being]
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Conservator – guardian for an adult, appointed by a court, to conserve another’s person or estate due to incapacity, physical or mental [includes writing a will]
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Power of attorney – similar concept, someone is going to do something in the place o
- The trustee has the power to execute and deliver all instruments which are needed to accomplish or facilitate the exercise of the powers vested in the trustee.
- The trustee has the power to hire persons, including accountants, attorneys, auditors, investment advisers, appraisers (including probate referees appointed pursuant to Section 400), or other agents, even if they are associated or affiliated with the trustee, to advise or assist the trustee in the performance of administrative duties.
- The trustee has the power to effect distribution of property and money in divided or undivided interests and to adjust resulting differences in valuation. A distribution in kind may be made pro rata or non pro rata, and may be made pursuant to any written agreement providing for a non pro rata division of the aggregate value of the community property assets or quasi-community property assets, or both.
- The trustee has the power to pay any sum of principal or income distributable to a beneficiary, without regard to whether the beneficiary is under a legal disability, by paying the sum to the beneficiary or by paying the sum to another person for the use or benefit of the beneficiary. Any sum distributable under this section to a custodian under the California Uniform Transfers to Minors Act (Part 9 (commencing with Section 3900)) shall be subject to Section 3906.
- The trustee has the following powers:
- (a) To make loans out of trust property to the beneficiary on terms and conditions that the trustee determines are fair and reasonable under the circumstances.
- (b) To guarantee loans to the beneficiary by encumbrances on trust property.
- The trustee has the power to pay taxes, assessments, reasonable compensation of the trustee and of employees and agents of the trust, and other expenses incurred in the collection, care, administration, and protection of the trust.
- The trustee has the power to do any of the following:
- (a) Pay or contest any claim.
- (b) Settle a claim by or against the trust by compromise, arbitration, or otherwise.
- (c) Release, in whole or in part, any claim belonging to the trust.
- The trustee has the power to borrow money for any trust purpose to be repaid from trust property. The lender may include, but is not limited to, a bank holding company, affiliate, or subsidiary of the trustee.
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