Contact Us Today!
Walnut Creek Trust Administration Attorneys
Trust Administration Attorneys in California
Helping Trustees From Start to Finish
Many Revocable (Living) Trusts have been sold on the premise that they will save time and money on the administrative end. While this is certainly true as a general rule, trust administration is not without its pitfalls.
Here at the Huber Fox, we are equipped to help trustees with trust administration from start to finish, and can provide as much – or as little – assistance as is required by the trustee. If you are a trustee administering a trust, you may be asking yourself some of the following questions:
- Who should I notify about the trust administration?
- Should I pay expenses with trust funds?
- How do I get a tax ID number for the trust and establish a bank account?
- What should I do with the settlor’s original Will?
- How do I prepare an inventory of trust assets?
- Can I give items away?
- What should I do if someone else has possession of trust property?
- Do I need to account to beneficiaries for the income, expenses, gains, and losses incurred by the trust?
- To whom should distributions be made?
- When should distributions be made?
- How do I go about closing a trust?
- What steps can I take to ensure I will have no more liability after the trust is closed?
These are just a few of the many questions that are likely to arise in the typical trust administration context. So, although trust administration is normally done without court supervision, the assistance of an attorney who is well versed in trust and estate administration law is strongly recommended.
Trustees owe fiduciary duties to trust beneficiaries, and ignorance of the law is no excuse for trustee misconduct or mismanagement. Because most trusts provide for payment of attorney fees directly from trust assets, there is really no reason for a trustee to attempt to “go it alone” when attempting to navigate the complex requirements of trust administration.
If you are a trustee and are looking for guidance with a trust administration matter, give us a call today to schedule an initial consultation with one of our knowledgeable trust attorneys.
What Our Clients Say
Reviews & Testimonials
-
"Very cordial and relaxing atmosphere"
Very cordial and relaxing atmosphere even though doing something so important as my Trust. Explained everything clearly and ...
- EC -
"Very Happy with Jason & Hannah and Paula and the staff"
I initially brought Huber Fox a review of my Trust & Will materials. They did such a great job that I ended up bringing my ...
- WC -
"They were extremely helpful."
Hannah at Huber Fox was the attorney we met with. This was a redo from our original trust which was done in early 2000. Many ...
- Mary M. -
"Huber Fox was timely and always helpful."
I have been very happy with my experience with Huber Fox. I am the successor trustee and estate of my uncle's estate. Huber ...
- WW -
"Knowledgeable, efficient, and very professional"
Jonathan was extremely helpful in helping us establish our trust. He was knowledgeable, efficient, and very professional! I ...
- W.J. -
"Very knowledgeable, wise, and sensitive"
We hired Hannah Myers of Huber-Fox to help us with a recent restatement of our family estate trust. She showed that she is ...
- John M. -
"Very kind and very knowledgeable."
I was referred to you and I'm so glad I was. Setting up a trust can be a very emotional experience. But Hanna and her very ...
- Susan S. -
"Highly recommended."
Personable, knowledgeable and professional, highly recommended.
- Larry B.
