After the death of the trustor (who is the person who created the trust), certain steps must be taken to comply with state law, to preserve the federal estate tax exclusion amount and to change title to assets. This is called “trust administration,” and the complexity of the administration depends on the number and type of assets, their total value and whether the trust includes tax-planning provisions.
Oakland Attorneys, Providing Experienced Guidance on Asset Distribution
If a decedent had a properly drafted and funded trust, probate is generally not required. Unlike a will, a trust is a private document and need not be filed with the probate court.
Nonetheless, the successor trustee must still take steps to administer the trust:
- Beneficiaries must be contacted and kept informed
- The trust-maker’s assets gathered and invested
- Any debts paid; potential creditors notified
- Taxes filed and paid
- Assets and/or income distributed in conformity with trust provisions to beneficiaries, etc.
Our attorneys are able to provide guidance on questions that arise during trust administration.
Trust Litigation Lawyers Serving Sacramento and Other Communities Throughout California
In addition to trust administration guidance, we also represent clients in Oakland and throughout the Bay Area and Southern California in trust litigation when disputes regarding asset distribution arise. Please call 415-441-8669 or contact our lawyers online via e-mail to schedule a free initial consultation.