Trust Administration

After the passing of the creator of a revocable trust, the trustee must begin the process of trust administration.  Our office can assist the trustee with the following:

• Providing notifications compliant with the California Probate Code that serves to limit the time to contest the trust or to bring claim against the trust estate;
• Taking necessary steps to enable the successor trustee to gather, safeguard and manage trust assets;
• Inventory and valuation of assets;
• Assisting the trustee in proper record-keeping procedures for the trust and in the preparation of reports and accountings;
• Fulfillment of the trustee's fiduciary duties to the beneficiaries of the trust while limiting the trustee's liability; 
• Paying debts and trust expenses and dealing with creditors;
• Preparing Estate Tax Return (Form 706) if necessary;
• Preparing necessary notifications to county assessor's offices if the trust estate includes real property;
• Applying for the parent-child exclusion for an increase in property taxes for California real property being distributed to children;
• Distribution of trust assets to beneficiaries; and
• Representing the trustee in disputes with creditors or beneficiaries in connection with the administration of the trust.

Call (805) 267-1125 to schedule a consultation today.