What to Expect From a Corporate Trustee When Administering a CA Trust

When your loved one created his living trust in California, he may have instructed that a corporate trustee take over following his passing. In other circumstances, successor trustees may be given the authority to bring a corporate trustee on board in order to help them carry out their duties. Regardless of which situation applies, you may be unfamiliar with the role of a corporate trustee. Fortunately, a knowledgeable Anaheim living trust attorney can help guide you through the trust administration process and ensure that the corporate trustee is fulfilling its duties.

Generally, the corporate trustee should do all of the following:

  1. A corporate trustee should be familiar with all different kinds of trusts, as well as various tax and estate planning strategies.
  2. The corporate trustee should manage the assets of the trust, including paying bills, filing tax returns, maintaining records, and distributing income.
  3. Corporate trustees should have a staff on hand, who can assist with the tasks of administering the Anaheim trust.
  4. Corporate trustees should follow state and federal laws, rules, and regulations.
  5. The corporate trustee should be objective, even in situations with multiple beneficiaries.
  6. A corporate trustee should focus on the tasks of implementing the trust without the distraction of work, personal matters, vacations, or other matters.
  7. The corporate trustee should provide you with referrals, if needed, for other professionals, such as an accountant.

If for any reason the corporate trustee of a trust is not fulfilling her duties, it is important to consult with your attorney right away.

To learn more about living trusts and implementing estate plans, view our free guide, Understanding the Revocable Living Trust - In Language that Anyone Can Understand in 8 Minutes. An experienced Anaheim trust attorney at the Law Office of James F. Roberts & Associates, APC, will assist you as you administer a trust in California. Call our office today at (714) 459-5481 for a consultation. 

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm