Our Most Frequently Asked Trust Administration Questions
If you are serving as a successor trustee after the death of a loved one, these answers can help you understand your first steps, your responsibilities, and when it may be time to get legal guidance.
What Should a Trustee Do First After Someone Dies?
A trustee should first secure important documents, obtain certified death certificates, review the trust and any amendments, identify assets, and determine immediate financial obligations.
A successor trustee is responsible for carrying out the instructions in the trust after the trust maker dies or becomes incapacitated. This may include managing assets, communicating with beneficiaries, paying debts and expenses, and distributing property according to the trust.
Many successor trustees benefit from legal guidance because trust administration can involve strict deadlines, notices, tax issues, beneficiary communication, asset transfers, and potential personal liability if mistakes are made.
How Long Does Trust Administration Take in California?
The timeline depends on the complexity of the trust, the assets involved, tax issues, beneficiary cooperation, and whether disputes arise. Some administrations are completed in months, while more complicated matters may take longer.
Peter Keon of Kavesh, Minor & Otis provided excellent consultation for preparation in determining if Edward Jones Trust Company would act as a Successor Trustee. We highly recommend his Trust services.
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Last week we completed with the law firm of Kavesh, Minor & Otis, the updating of our Trust. The specifics were handled by Peter Keon, who was very professional, competent and helpful. He went through in detail our 2+ inches thick, very useful, and complete Trust manual. We strongly recommend Kavesh Law Firm if you are interested in a reliable implementation of your trust.
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★★★★★
“I had a positive experience managing my Executor role for my Uncle Tony’s estate. Working with Tammy Ng over several months, I found her unfailingly kind, understanding of my delinquent responses, helpful, brief, and delightful. I would strongly recommend working with this firm and ask for Tammy.”
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★★★★★
“Great review of our trust. Jane Lee very efficient and easy to talk to and gave us good advice as to how to avoid problems in the future.”
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★★★★★
“I am with Kavesh, Minor & Otis since 1996. Jane earned my trust. She always gave me good advice. I feel confident that she will make sure that the transition to the successor trustee will be smooth when I am gone. I also know that the company she recommended as successor trustee is trustworthy.”
When You Want the Best for Your Loved Ones, Choose Us.
Experience and Expertise. Estate planning and post-death administration are all we do. Our attorneys have over 70 years of combined expertise in the field, and and all of our attorneys have passed an additional Bar examination and peer review process to become State Bar Certified Specialists in Estate Planning, Trust and Probate Law. Two of our attorneys also have Master’s Degrees in Tax Law, giving us unique insight into how estate tax and income tax will affect your family’s inheritance.
Customization and Attention to Detail. Before we create or update your estate plan, we get to know you, your goals, and what matters to you most. We take the time to listen to your concerns and attend to each of your unique needs and desires as if they were our own. When we complete your plan, we perform a detailed quality control process to help ensure your objectives are met. We also provide you with a personalized Owner’s Manual containing all of your important documents, and and provide your successor Trustee with a Manual containing helpful, plain-English checklists and easy-to-follow procedures to follow when the time comes to act.
Lifetime Relationship. All of our estate plans include a free ongoing service package. We take phone calls any time you have questions, perform free estate planning checkups every three years, and keep you abreast of changes in the law and planning strategies with our complimentary newsletters and educational seminars. And, when the time comes, we will be there to help your trustee and loved ones.
