Trust administration

What is Trust Administration? What services do you offer?

When someone has a Revocable Living Trust, they can avoid probate upon their death, and they name a Trustee who will be in charge of handling their estate. Trust Administration is the duty of a Trustee, and involves the following tasks, which Jay or Pete would facilitate with the help of the Trustee:

Lodging of the Will – The Probate Code requires the Will to be filed with the County Probate Court within 30 days of death. 

Certification of Trust – This gives you authority, as the successor trustee of the Trust to act on behalf of the Trust. 

Authorization to Disclose Information – These allow banks and other institutions to release information to us about the Trust. 

Notification to Heirs – Probate Code 16061.7 requires notification to be sent to the beneficiaries of the Trust. This notice also limits the time for anyone to object to the terms of the Trust. 

Affidavit Death of Trustee – This document is recorded in the county where the decedent had real estate. 

Death of Real Property Owner – This document is sent to the County Assessor of each county where the decedent had real estate. 

Parent-Child Exclusion – This document prevents a re-assessment of property taxes in certain cases where property transfers from a parent to a child. 

Trustee’s Acceptance – This document demonstrates that you accept the role of successor Trustee. 

Small Estate Affidavit(s) – If a small amount of assets were not held in the Trust (under $184,500), this document may be used to collect those assets. 

Disclaimer – The document (if requested) may be signed by a beneficiary who wishes to disclaim an interest in the Trust. 

Notice to Various Government Institutions – The Probate Code requires a Trustee to notify various government agencies. 

Letter to CPA / Tax Preparer – This letter will outline Attorney and CPA’s respective responsibilities regarding the preparation of decedent’s tax returns and the Trust’s tax return. 

Trust Distribution Agreement – This document is signed by all beneficiaries at the conclusion of the trust administration and details the distribution of assets among the beneficiaries. 

Duties of Trustee – This document lists the duties of a Trustee under the Probate Code. 

Checklist of Trust Administration Steps – This helps to ensure that all tasks are performed, including those handled by the attorney, the Trustee and the CPA. 

Spreadsheet for Gathering Trust Assets – An important part of Trust Administration is identifying all of the assets and determining their value as of the date of death. 

How much do you charge for Trust Administration?

This is going to depend on your situation, the amount of time it will take, the amount of assets, the size of the estate, the amount of beneficiaries, whether or not there are properties to be sold, how complicated the Trust Administration will be, etc. If you sign up for a free phone consultation, one of our attorneys will go over your needs with you, and then give you a quote.

Can you help with taxes of the decedent or the Trust Estate?

No, this is something we do not do. We are happy to refer you to someone who specializes in tax preparation. In fact, we usually require our Trust Administration clients to work with a CPA so that we can coordinate on important trust-related tax matters.

There is a disagreement in my family about how the Trust Estate should be handed/distributed/etc. Can you represent me?

Unfortunately, we don't handle litigation, but we will happily refer you to a trusted attorney who can help you.