Trust Administration – Trustee Responsibilities…

Trust Administration Attorney, Joseph McHugh (Joe) and his team specialize in helping families terminate trusts according to California and Federal laws.

If you are looking at this page, we are sad that you have probably lost a loved one! The death of a family member or friend is always difficult! Administering and navigating the Trust Estate of a loved one can be legally and emotionally challenging, especially if you have difficult family members or beneficiaries to deal with! It is always a good thing to be able to say, “please call my attorney” and give them Joe’s phone number… (818) 241-4238

It is best to have an experienced attorney represent you in Trust Administration and transferring assets after the death of a Settlor… to ensure it is done legally and properly. There are required notices that must be sent to the beneficiaries to ensure they have gotten a copy of the trust and have 120 days to contest the trust and final accountings, etc.

At the end of the trust closing process and finalizing the distributions, each beneficiary must sign a final approval before any distribution happen, or the trustee may be sued if proper approval signatures are not obtained! If there are charities as beneficiaries, they will insist on proper notices and accountings by the trustee.

Our firm has years of experience helping many California trustees and include helping “out of town” trustees follow the legal steps to terminate a trust in the Southern California area (Los Angeles County). Trust Administration is the legal process of closing an Estate, paying all final bills, selling real property, filing a final IRS tax return, and finally distributing the estate to the listed beneficiaries… hopefully without a big family fight!

After the death of the Settlor or Trustor (the person who created his/her Trust), certain legal steps must be taken to comply with California State law, to preserve the federal estate tax exclusion amount, and to manage and to change title to the assets in the Trust. This process is called TRUST ADMINISTRATION and the person in charge of this is the Trustee. That person has direct and legal responsibilities to the estate and the named beneficiaries to follow what the trust established as final distribution.

 
When assigned as the Trustee with the task of administering and/or closing an estate, it is always best to consult with an Attorney who is experienced in these matters, to ensure you are protecting the estate and moreover yourself as family members can get difficult when it comes to inheritance. This job can be a major headache and may create personal liability if you do not know the trust laws and your responsibilities in California and are assigned as a trustee. If you think the family is not going to cooperate and easily agree with the terms of the trust, do not try the handle this without legal representation! Know that the trust funds are to be used to pay for an attorney to represent you as trustee!

Our Trust Administration Staff and Attorney has experience in guiding and supporting a Trustee (the person who will manage the assets until the final distribution to the beneficiaries) through the process of closing out the Trust Estate, while managing the legal issues with the beneficiaries, accountings, asset transfers, as well as all other legal matters involved in closing an estate. In many cases the trustee tells the heirs to only talk to LA LAW Center if they have questions… this makes sure the trustee is protected.

 

You Are Now A Trustee…What Does This Mean

Being the Trustee is a confusing and time-consuming job with many looking to you for their inheritance and ready to criticize your actions.

The following is a brief overview of what is involved in being a Trustee and how we can support you in your role as Trustee:

  1. We can help a Trustee (the person who will manage the assets until the final distribution to the beneficiaries) with initial trust notifications to all family and beneficiaries.
  2. There is a series of legal notices and accounting that must sent to the beneficiaries defining the trust and the beneficiaries and final distribution.
  3. We required all Beneficiaries to sign notifications before release of assets.
  4. Legally managing the trust’s final wishes and dealing with the beneficiaries.
  5. Transfer of assets regarding real properties and financial accounts involved in closing the trust.
  6. Our Trust Administration Lawyer and Paralegals are ready to support your responsibilities on whatever level you feel you need in this complicated legal process.
  7. The complexity of each Trust Administration will vary depending on the number and types of assets, their assessed value, whether property must be sold (then divided after taxes) and to what extent the trust has tax planning provisions.
  8. We represent the trustee that is closing the Estate and always recommend that assets are NEVER DISTRIBUTED UNTIL each beneficiary signs the legal approvals and or waivers (sent to our office so they know you are represented by legal counsel) accepting their share defined by trust and legally declare that we not sue the Trustee in the future.

Do You Need A Trust Administration Attorney To Represent You?

You may need to legally protect yourself and get the legal advice of a Trust Administration Lawyer in properly closing of the Trust. YOU want to protect yourself from potential lawsuits due to errors or mistakes in the Trust Administration process!

You will need a Trust Administration Attorney if there are beneficiaries or other family members that may want to contest the following:

  1. The Trust in general.
  2. You as the assigned as the Trustee.
  3. Your actions regarding the Estate and Trust Administration issues.
 

Attorney Joe McHugh and his staff are ready to help you and hopefully prevent your Trust Administration case going to court! Our goal is to settle any complaints and make sure the trust’s final distribution is honored.

After a thorough review of the best strategies and most cost-effective process for your Trust Administration we will present to you our legal fees for the scope of work. Once approved we will structure a plan and guide you through the Trust Administration legal process created specifically to for your situation.

Our Law Office is in Southern California; however, we serve many clients throughout the state and out of state for Assigned Trustees that are having to administer California Trusts.

We are happy to help you!

Call for consultation: (818) 241-4238. Or you can submit this form to request a consultation.