Trust administration
You have been named. Nobody explained what that means.
A parent has died, you are the successor trustee, and a bank is asking for documents you have never heard of. There is a sequence to this, and it starts sooner than most people are told.
In short
What happens after. The notices, valuations, transfers and accountings a successor trustee is required to produce.
A successor trustee is usually a son or a daughter, taking on a legal office in the worst month of their life. From the date of death there are duties owed to every beneficiary, and several of them have deadlines measured in days.
We set out the sequence in writing at the start, then do the parts that need a lawyer. A trustee who knows the order is a trustee who does not get sued.
What this covers
Five things we do here
Successor trustee representation
The first ninety days decide the next three years. We act for the trustee, and say so at the first call.
Notices and trust certifications
The notice starts the clock on any contest. Serving it early closes that window early.
Trust accountings
A legal document with a required form, not a spreadsheet. It is the first thing a court reads.
Distributions and closing a trust
Distributing early is the mistake that cannot be undone. Closing properly is what releases the trustee.
Beneficiary representation
You are on the receiving end and being told very little. We act for you, and not also for the trustee.
Read about this
Five questions we are asked about trust administration
- When can a trustee safely distribute trust assets?Distributing early is the one mistake that cannot be undone, because the trustee is personally on the hook for what is then missing.
- I have been named successor trustee. What do I do first?There is a sequence, it starts sooner than most people are told, and the first ninety days decide the next three years.
- The trustee will not tell me anything. What am I entitled to?More than most beneficiaries realize, and silence past a certain point stops being a family matter and becomes a legal one.
- Do I have to notify beneficiaries when a trust becomes irrevocable?Yes, and the notice is what starts the clock on any contest. Serving it early is what closes that window early.
- Can a beneficiary force me to provide a trust accounting?In most cases yes, and a trustee who cannot produce one is in a weak position however honestly they have acted.
Who does this work
Elsewhere
The other practice areas
- Estate planningThe documents that decide who acts for you and who receives what, written to be used rather than filed.
- ProbateThe court proceeding that moves property when there was no trust, or when the trust did not own it.
- Property transfersDeeds, retitling and the reassessment questions that follow a change in ownership of California real property.
- Business successionWhere the estate plan meets the operating agreement, and the two have to be made to agree.
- Incapacity and special needsWho decides when you cannot, and how to provide for someone whose benefits an outright gift would put at risk.