Trust Administration
Advising trustees on their fiduciary duties to manage and distribute assets without court intervention.
The Trustee's Duty
Many people mistakenly believe that having a Living Trust means “nothing needs to be done” after a death. In reality, the Successor Trustee must immediately step in to secure assets, send mandatory legal notifications to beneficiaries within 60 days (per Probate Code § 16061.7), and file tax returns.
As a Trustee, you are a fiduciary. This means you are held to the highest legal standard of care. Mismanagement of funds, failure to keep beneficiaries informed, or favoring one beneficiary over another—even accidentally—can lead to personal liability and lawsuits.
Funding & Distribution
The primary goal of administration is to pay off the decedent’s debts and distribute the remaining assets according to the Trust’s specific instructions. This often involves intricate steps like “sub-trust funding,” where assets must be allocated precisely between a Survivor’s Trust and a Bypass Trust to maximize tax savings.
Fiduciary Protection
- Mandatory Notice
Drafting and serving the required notifications to start the 120-day statute of limitations for anyone to challenge the Trust.
- Accounting
Helping you prepare formal accountings of all receipts and disbursements to protect yourself from beneficiary accusations.
- Conflict Resolution
Serving as the neutral legal voice to mediate disputes between siblings or beneficiaries regarding personal property distribution.