In California, successor trustees must gather assets, notify beneficiaries and creditors, manage tax filings, and distribute trust property according to the terms of the trust. Our Fullerton firm has guided trustees through this process since 2003.
A trust is a legal vehicle that allows the creator to set aside assets and eventually pass them onto beneficiaries of their choosing. Creating and funding a trust can help you minimize fees and taxes, reduce the hassle of passing down assets, or establishing a legacy of charitable giving.
When the trust's grantor passes away, the assets are administered according to the terms of the trust. This administration process is best navigated with the support and counsel of a knowledgeable attorney. At OC Elder Law, our Fullerton and Bellevue trust administration lawyers can represent you and ensure that your loved one's trust is administered properly.
Call 714 525-4600
Effective Trust Administration Services to Avoid Probate
One of the primary reasons a settlor or grantor creates a trust is to avoid going to probate court to distribute assets to beneficiaries. Probate is a costly, lengthy, and public process that is best avoided when possible.
Fortunately, a fully funded trust can avoid probate altogether. When a settlor or grantor passes away, the trustee should consult with an attorney to help review the trust and implement a comprehensive plan to administer the trust's assets.
There are several key steps that need to be taken before the beneficiaries receive their inheritance. These include:
- Gathering the assets
- Notifying potential creditors
- Filing any taxes
- Paying off burial expenses and other fees
Consult with Us Today
At OC Elder Law, our trust administration lawyers in Fullerton have decades of experience. We recognize the importance of proper trust administration and are eager to apply our skill and knowledge to your case.
Since 2003, our firm has been helping trustees navigate this detailed and often overwhelming process.
Reach out to us today by calling 714 525-4600.
TRUST ADMINISTRATION CHECK LIST
