Trust administration means carrying out the terms of a trust, managing its assets and making distributions as required. Trustees must follow the trust’s instructions and their legal duties. Many trusts are administered without ongoing court supervision, although court involvement may be needed in some situations. We help trustees understand and carry out their responsibilities.
The work and timing depend on the trust, its assets, tax matters and the issues that arise. We help you identify the steps that apply and understand what needs to happen before distributions can be made. The steps below are examples, not a fixed sequence for every trust.
Lodge the will with the court located in the county decedent resided in.
Send California Probate Code 16061.7 Notification to all heirs and beneficiaries named in the trust.
Gather asset information and take possession of all trust assets.
Update the title to trust assets.
Obtain a tax identification number.
Notify creditors.
A beneficiary’s rights depend on the trust, applicable law and the beneficiary’s interest. These may include rights to trust information, accountings and distributions under the trust’s terms. The requirements can differ while a trust is revocable and after it becomes irrevocable.
After a loved one dies, we help you determine whether probate is needed and guide you through the process.
We help individuals and families understand Medi-Cal eligibility and plan for long-term care needs.
Book a consultation directly on Cagla Basar’s calendar by simply choosing a date and time that is most convenient for you.
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