Trust Administration

Trust administration is the process of settling a person’s trust after they have passed away. If you are named as a trustee, this can involve settling debts of the estate, paying taxes, transferring property, distributing the assets to the listed beneficiaries, and other administrative tasks. Even though the management is described in the trust documents, this can be a complicated legal process with many steps involved. 

 

Increasingly, California families are opting to establish a revocable living trust to provide for the disposition of their assets upon their death or incapacity. This can be an effective tool in avoiding the delays and costs associated with a formal probate proceeding, minimizing estate taxes, and generally providing for the orderly disposition and management of finances and property without requiring judicial intervention. Our goal is to make any administration go as smoothly as possible while ensuring the Trustor’s directives are carried out effectively when the Trustor(s) becomes incapacitated or dies.

 

While the revocable living trust is very effective in accomplishing the foregoing, the trust must still be "administered" upon the death or incapacity of the Trustor(s) (also referred to as Grantors or Settlors). At Odom Law Group, we are committed to guiding our clients through the process of administering a trust estate upon the death or incapacity of a loved one, including counseling successor trustees on his or her fiduciary duties and other obligations as trustee, aiding the trustee in identifying, collecting, and valuing assets, paying legitimate debts of the estate, and reporting financials to trust beneficiaries. 

 

Find out more about our estate planning and trust administration services to avoid probate; contact Odom Law Group at (661) 367-1699 or info@odomlawgroup.com for more information.

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