Three Ways to Get Your Questions Answered If You Are a Successor Trustee
Wondering how to get the information that you need to do a good job as a trustee? Find out three important resources that can help you.
Articles about Administer a Trust
Give Notice to a Trust When Administering a Probate Estate
If assets are left to a trust under a will, a probate must be started. Proper notice must be given to the interested parties. Learn more here.
How to deal with real property that is outside of trust when a person passes away?
If real property does not exceed $50,000 gross (not very typical in California, except in the case of timeshares), then the property need not go through a full formal probate. Instead, a simplified Affidavit Procedure is available to the personal representative of the estate. Under this procedure, the personal representative must wait 6 months from the date of death and then file an “Affidavit Regarding Real Property of Small Value” with the clerk of the superior court in order to transfer the property to the trustee of the trust. Using this procedure, the value of the decedent’s personal property does not matter.
Trustees Are Responsible for Depositing Trust Checks During Administration
When a trust receives a check, the trustee is responsible for depositing it. Also, the trustee must make sure it is handled properly and keep accurate records.
How to Distribute Personal Property
Jim Roberts has significant experience in estate planning, tax planning, estate administration and elder law. Jims extensive knowledge allows him to properly g
Need to Open a Trust Bank Account? Consider These Tips.
If you have been named successor trustee of a trust, you may need to open a bank account. Choosing the right bank can make your job easier.