Administer An Estate Plan
Anaheim Living Trust Lawyers Discuss How To Administer Trusts
Often, a California wills and trusts lawyer advises clients to use trusts to pass assets to their loved ones when they die. That’s because living trusts offer so many advantages over traditional wills. But it’s a misconception to think that setting up a living trust enables beneficiaries to take property automatically, without any further administration. On the contrary, once the creator of a living trust passes away, the successor trustee takes on multiple duties and responsibilities. When someone needs to administer an estate plan we are here to help the trustee or administrator to follow the correct process in California.
Many successor trustees hire attorneys to help them fulfill their duties
Our Anaheim estate attorneys focus on trust issues
When we work with a trustee, we explain the person’s duties, and we help him fulfill those duties
When we are asked to assist with the administration of a trust, we begin by reading the trust documents and locating the trust’s assets. We meet with the trustee to discuss any issues that must be addressed immediately. We also discuss the trustee’s ongoing responsibilities. We explain the specific duties the trustee must perform and discuss how the trustee can carry out those duties.
The trustee must make important decisions regarding assets and other issues. We provide focused advice to support him. Our goal is to provide enough information and support so that the trustee feels as though he is making competent, informed decisions.
Please contact our Anaheim trust attorneys if you’ve been appointed as a successor trustee
If you would like our Anaheim, California estate attorneys to discuss trust administration, contact us. You may reach us by calling (714) 282-7488 or by filling out an online contact form.
We help people who live in or near Anaheim, Orange, Villa Park, Yorba Linda, Fullerton, Huntington Beach, Placentia, Santa Ana, Irvine, Garden Grove, and La Habra.
Helpful Articles About Administering an Estate Plan
As trustee, do I need an attorney to help me fund a sub-trust? In most cases, the answer is yes, trustees should seek guidance from an experienced attorney when it comes to the administration of a trust involving sub-trusts.
During the administration of a special needs trust, the trustee has many responsibilities. In order to make the administration process easier on the trustee, it is important to obtain HIPAA releases before making payment to these health care providers.
You have been named executor and want to serve as the executor of his estate and help settle his debts and distribute his assets according to the terms of his will, trusts, and other applicable estate documents. You should call an attorney to help you.
Trust funding is important because many of the benefits that are provided by using a trust are not accomplished unless the assets are actually moved into the trust before the creator passes away. This often means the trustee is responsible for funding the sub-trusts.
Getting a receipt for a disbursement is important to protect the personal representative or trustee proving that what was supposed to be was fulfilled. Here is more information about getting a receipt for a disbursement.
As you administer the estate of your loved one, you must obtain a tax ID number. Executors cannot simply use the social security number of the decedent in order to file taxes or open accounts on behalf of the estate.
An attorney can help you to administer a trust correctly and save you a lot of time and energy making sure you follow California law. Contact us today if you have questions about serving as trustee.
While it may be tempting to skip over the appraisal when facing extensive tasks during a trust administration, it is important to have an appraisal when funding a sub-trust! Read more here!
Sometimes you must consider Arbitration for a Trust Dispute, know what that entails and what that means for your situation by talking with an estate planning attorney today.
As part of the trust administration process, the administrator of an estate should obtain an asset valuation for the estate or trust property. Get an experienced attorney to help you complete all the needed tasks trustees face.