TRUST ADMINISTRATION

When an owner of a living trust dies, California law requires the trustee to take specific legal steps in order for the family and/or other named persons to inherit from the trust and to have the assets transferred. This process is called trust administration.  It is similar to probate, except that it occurs without the involvement of a court and is usually faster and less expensive. It is generally needed even if there is a second owner / trustee of the trust, such as a spouse, who is still living.

If the required legal steps are not taken, the successor trustee may be liable to trust beneficiaries for failing to properly perform all of the trustee’s legal duties.  Title to assets may not pass properly, the trustee and beneficiaries may remain liable to creditors, and tax benefits may be lost.   

Hempel & Mudd Law can explain the process of trust administration and guide you every step of the way.

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