What is Trust Administration?

Trust Administration Attorney in Thousand Oaks, CA

California Law requires that certain procedures be followed when a trust's creator passes away. Unlike wills, most trusts do not have to go through the probate administration process.

Trusts are private documents that do not need to be filed with the probate court after the settlor passes away. However, there are affirmative actions that must be taken by the successor trustee to ensure they are protected under the law. Trust administrators are often non-professional trustees who are unfamiliar with the requisite procedures and relevant laws.

They may also lack the time and resources to properly administer a trust and may find hiring an experienced lawyer beneficial to the overall trust administration process. We have over 60 years of combined legal experience, and we have the ability to help clients with all trust administration needs.

If you are a successor trustee and require administration assistance, contact a Thousand Oaks attorney from our firm today at (805) 372-1507.

Successor Trustee Duties

Whether a single or married individual passes away, many tasks need to be completed in order to properly administer a trust. A successor trustee must notify the beneficiaries of the settlor's passing using a particular prescribed format as defined in the California Probate Code, as well as identify the trust's assets.

They must then establish the deceased's estate and/or trust as a new taxpayer in order to file and pay taxes on the decedent's behalf. For minor beneficiaries, trustees must create administrative or continuing trusts, so the assets will be preserved for future beneficiaries.

They are also responsible for the distribution of assets to subtrusts and the real property transfers between subtrusts or beneficiaries. If creditors file claims against the trust, the trustee must establish if the claims are credible. If the claims are valid, it must be satisfactorily handled in a timely manner. Fiduciary duties and powers of management must be upheld at all times, or a successor trustee may be held personally liable for loss or damage to the trust estate.

Ventura County Trust Administration Attorney

The attorneys at Pederson Law Offices have the ability to guide a non-professional trustee through trust administration procedures. We may help collect a trust's assets, pay necessary taxes, and fill out and file trust administration paperwork.

If you are interested in retaining our firm to handle any area of trust administration, call us today to schedule a no-obligation consultation.

Our Client Reviews

  • He was sympathetic to my concerns and made a difficult situation tolerable. I found Grant to be personable as well as knowledgeable and trustworthy and would definitely recommend him.

    - Anita

  • When I let Grant know that I had travel plans, he accelerated work on some documents I wanted to be changed so that they could be ready before I left.

    - Michael

  • We are relieved to know that we have someone there to help us make the right choices for us and our family.

    - C.M.

  • We are glad to have completed the initial planning for what we hope will be an enduring family legacy.

    - Trevor and Karlee

  • I would not hesitate to recommend them to anyone needing the type of services they provide.

    - Anonymous

  • We highly recommend Grant and his team for your family's trust needs.

    - D.A.

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