Trust Administration

Trust administration refers to the management of an established trust. Many times, a non-lawyer is named as a successor trustee when the person(s) who created their living trust die(s), becomes incapacitated, or wants someone else to handle their affairs. The successor trustee may have no idea what they are expected to do, or has no room in his or her schedule to adopt this role. Frequently, a newly-named trustee wants nothing more than to pay the estate’s bills and distribute the assets to the beneficiaries. However, there are procedural formalities to follow and legal requirements to be met before those assets can be distributed.  A trustee can engage attorneys to assist them in this.

When a trustee engages our firm, we begin a process by which we gain a thorough understanding of the estate (both the financial position(s) and any property), the apparent wishes of the deceased, and the legal ramifications of the changes in the involved parties’ statuses. We develop a close relationship with the trustee, beginning with assuring that they have the proper legal authority to act on behalf of the estate, through the successful distribution of the estate. If necessary, we will continue the relationship if additional estate planning is required. We work with the trustee and his or her tax or accounting professionals to ensure the estate is properly handled.

Wealth Counsel

Wealth Council

Docubank

Docubank

Contact Us

Steven M. Greenwood, P.C.
2801 Townsgate Rd., Ste. 210
Westlake Village, CA 91361

805-277-5020 - Phone
805-277-5021 - Fax
info@CAestatelaw.com

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