San Diego

Trust Administration Attorney

When someone sets up a trust, they typically alert the person who they name “successor trustee,” or the person who assumes control of the trust after the creator dies. That way, the successor trustee is prepared for the tasks and responsibilities that begin once the creator of the trust passes away.

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When someone sets up a trust, they typically alert the person who they name “successor trustee,” or the person who assumes control of the trust after the creator dies. That way, the successor trustee is prepared for the tasks and responsibilities that begin once the creator of the trust passes away.

If you have been named successor trustee of a trust -- whether or not you were alerted of your role -- you have a fairly long list of things to do.

Here’s a brief explanation of the process, as well as information about how San Diego Trust Administration Attorney Jennifer Reardon can help you through the process.

What is a trust?

People create trusts to have the ability to manage their affairs during their lifetime as well as after their death without sending their families through probate (the court administration of your estate).

There are many types of trusts, including the following:

  • Family
  • Revocable (living)
  • Irrevocable
  • Life insurance
  • Special needs
  • Marital
  • Pets
  • Charitable remainder

The ideal trust clearly outlines your wishes to your family, heirs, and beneficiaries regarding everything from real estate to personal family items that, if not specified, could lead to fighting among the family. A trust can also explain guardianship clarifications — and even who you want to take care of your pets.

San Diego trust administration process and trustee responsibilities

When the creator of the trust dies, the successor trustee’s responsibilities begin. This responsibility includes taking care of all the various points laid out in the trust and administering the assets to the various beneficiaries.

The first two steps for this journey include:

1

setting a timeline and a budget for the trust administration, and

2

notifying the beneficiaries of their role in the trust.

Oftentimes, trust litigations occur just due to the lack of communication between parties. Notifying everyone involved of what you are doing helps avoid these types of issues.

Other steps in the trust administration process include:

  • Identifying trust assets
  • Checking all safety deposit boxes
  • Opening a trust bank account
  • Obtaining titles and appraisals
  • Paying debts and filing tax returns
  • Selling real estate
  • Keeping accurate records throughout the trust administration process
  • Eventually, closing the trust

The process can be a bit of a daunting task, and the timeline depends on many factors, including the number of beneficiaries. You should be sure to let your attorney (or the creator of the trust’s attorney) know if you don’t feel comfortable taking this role.

But remember that a trust administration lawyer can easily help you with many of the tasks at hand, including:

  • Organizing the process
  • Creating a clear outline
  • Understanding the documents (wills, etc.)
  • Administering the estate
  • Dealing with court proceedings
  • Settling disputes
  • Organizing the process
  • Creating a clear outline
  • Understanding the documents (wills, etc.)
  • Administering the estate
  • Dealing with court proceedings
  • Settling disputes

How the Reardon Law Firm can help

You don’t have to go through the trust administration process alone. Contact the Reardon Law Firm, based in San Diego, to get in touch with Attorney Jennifer Reardon. With over 20 years of experience dealing with taxes as a Certified Public Accountant, she has the experience and the attention to detail necessary to help you through this complicated and sometimes trying process.

Call today to set up your free initial consultation.

CALL 619-930-9420 FOR A FREE CONSULTATION

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