TRUST ADMINISTRATION
Local Santa Clarita Trust Administration Attorneys
You’re the trustee for the estate of someone close to you: it’s both an honor and a great responsibility. Now what?
Trust administration details the process of managing a trust or being a trustee. Every estate is different, but some elements are always the same: it’s personal, it’s complex, and it inevitably engages a lot of moving parts which is why you should consider a trust administration lawyer.
While it may sound like a lot to handle, with our trust administration lawyers at Odom Law Group, APLC, the process doesn’t have to be stressful. We’re here to help with the fine print – you just need to focus on what’s important.
What does Trust Administration mean for me?
Trust administration, most simply, is the process of settling a person’s trust after they have passed away or can no longer manage it themselves. If you’re named as a trustee, you’ve been given the responsibility of putting the plans and details of a trust into action.
Your tasks will include things like:
- Settling any outstanding debts that have to do with the person or their estate
- Paying any necessary taxes and providing notice to necessary authorities
- Organizing documents and managing communications to key people
- Transferring property from the estate as directed and described
- Helping to distribute the estate’s assets to beneficiaries as listed
- Assessing key assets and protecting them as noted by the trust
- Any other kinds of paperwork and administration
While the trust documents lay out information including the steps, details, and directions for how things need to be managed, the process can still be complicated. Trusts, particularly revocable living trusts, are complex legal arrangements and you can expect them to have a lot of steps.
There’s no need to panic! An experienced trust administration lawyer can help you understand and manage all the details. We’ve got this, together.
What does Trust Administration mean for me?
Your tasks will include things like:
- Settling any outstanding debts that have to do with the person or their estate
- Paying any necessary taxes and providing notice to necessary authorities
- Organizing documents and managing communications to key people
- Transferring property from the estate as directed and described
- Helping to distribute the estate’s assets to beneficiaries as listed
- Assessing key assets and protecting them as noted by the trust
- Any other kinds of paperwork and administration
While the trust documents lay out information including the steps, details, and directions for how things need to be managed, the process can still be complicated. Trusts, particularly revocable living trusts, are complex legal arrangements and you can expect them to have a lot of steps.
There’s no need to panic! An experienced trust administration lawyer can help you understand and manage all the details. We’ve got this, together.
Odom Law Group, APLC | We’re here to help with the trust administration fine print.
California Trust Administration Lawyer Services
Now more than ever, California families choose to establish a revocable living trust to ease their minds and plan for the future. There are several reasons why that’s the case – and, after all, it’s a personal decision.
Some of the benefits of a revocable living trust include:
- Skipping the delays (and costs) of a formal probate proceeding
- Minimizing estate taxes
- Managing financial matters in an orderly way, no judges or judicial process required
- Distributing property in a smooth and straightforward way without additional intervention
A revocable living trust presents a very effective, clear plan for a Trustor (or Grantor or Settlor)’s wishes. It sets the framework for a smooth path into the future. However, the documentation doesn’t just work automatically or on its own: the trust must still be “administered” by a dedicated trustee. This is where a trust administration attorney can help.
At Odom Law Group, APLC
Our local Santa Clarita trust administration attorneys work to make any trust administration move forward as smoothly as possible throughout every step of the process. We’re committed to helping guide you through all that lies ahead.
- Counseling successor trustees and clarifying their fiduciary duties
- Helping you understand the process of trust administration and your obligations
- Providing insight in identifying and valuing assets
- Offering guidance as you collect and manage all the moving parts
- Assisting in financial matters, including payments, settling legitimate debts, and properly reporting financial information to trust beneficiaries
About Our Legal Practice
At Odom Law Group, APLC, in Santa Clarita, our work is rooted in real-world impact. We erase the line between partnership and professionalism: as your advisors, our practice is personal. During your trust administration journey, we’ll be by your side throughout the journey to answer questions, offer insight, and set you up for success. Leverage our legal expertise to charge into the future with confidence.
Our team is proud to practice in trust administration, probate, retail store representation, business law, estate planning, trademarks, real estate law, and mergers and acquisitions. You’ll find outstanding experience, a deeply sophisticated practice, and industry-leading knowledge with our attorneys: we’re here to meet any challenge you might face.
You’ll also find a group of people who care here: about you, your future, and your goals. Give us a call any time. We’re always here to talk – but first, we’re here to listen.
Reach Out
Estate planning and trust administration services are just one facet of our expertise at Odom Law Group, APLC. If you’re ready to learn more about our team, let’s chat!
Contact Odom Law Group, APLC, at 661.367.1699 or email us at info@odomlawgroup.com. We can’t wait to meet you.