Modern Estate Planning Blog

While it is true that the administration and distribution of assets held in a trust following the death of the trust owner is considerably easier and much less time consuming than having to deal with probate, there are still many things that need to be done by the successor trustee before the assets of the trust can be distributed to heirs. You do not need to have a law degree for trust administration, but oftentimes people find the process overwhelming and seek guidance to navigate through this difficult process.

Here are just a few things that are the responsibility of the trust administrator (trustee):

1. Notifying beneficiaries
2. Valuations and liquidation of assets
3. Paying debts and taxes of the trust
4. Distribution of remaining assets to beneficiaries
5. Filing tax returns
6. Reporting and accounting requirements of the state and courts
7. Defending the trust against claims of creditors or excluded heirs

This is a lot to handle, especially while you are grieving the loss of your loved one.

An experienced Sacramento trusts lawyer can help those responsible for trust administration through this difficult time by preparing appropriate documents and guiding them through their fiduciary duties.

If you decide that you would like professional advice to help you through your responsibilities, be sure that you find a Sacramento trusts lawyer experienced in trust administration because he or she will be able to provide sound legal advice and strategies that will reduce the risks and burdens that you will face.

Of course, you can always give us a call at (916) 241-9661 and request a free Peace of Mind Session (normally $750) to discuss your trust administration or estate planning needs. However, these free sessions are limited to 10 per month, so call today!