Trust Administration

If you have a living trust, there should be nothing to probate. Your estate still needs to be distributed, however, and your debts paid. That process is known as trust administration. During trust administration, your successor trustee, along with an attorney, accountant, or both, help determine the property you owned at death; determine what your debts are and how to pay them; determine the estate and other taxes owed by the estate; and help distribute all property to the beneficiaries you have named in your living trust. (Note: It is important to make sure that all real estate, securities and accounts are transferred into your trust as soon as the trust is established.)

When a person dies their trust must be administered in compliance with the terms of the trust and California statutes. Besides the technical requirements of California law and the terms of the will or the trust, an estate tax return may need to be filed depending upon the size of the estate. The return is due nine (9) months after death.

We specialize in the initiation and administration of the trust and/or estate upon death which includes:

  1. The identification of assets and how they are owned (ie. Owned solely or owed in a trust)
  2. Identification of debts and tax liabilities and settlement of those debts and liabilities in accordance with state laws.
  3. Communicating with the accountant regarding the decedents state and federal final income tax returns.
  4. Preparation of the federal estate tax returns for an estate.
  5. Communicating with the accountant in preparation of state and federal tax returns for a trust.
  6. Guiding the trustee on how best to distribute the estate assets to attain family harmony, minimize disputes and minimize taxes