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.
What Does a Successor Trustee Do?
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.
Do I Need a Lawyer to Administer a 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.
What Is the Difference Between Probate and Trust Administration?
Free Resources for Trustees and Beneficiaries
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Well-Known Bank Pays $8 Million in Damages after Being Found Guilty of Committing Trustee FraudLearn how Wells Fargo faced an $8M fraud judgment for mismanaging a trust. Key takeaways for ensuring professional trustees act in beneficiaries' best interests
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Late Art Collector Leaves $100,000 Tip, Boyfriend Contesting WillRobert Ellsworth's boyfriend contests a will leaving him $10 million, claiming his late partner lacked capacity due to dementia and alcoholism.
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How to Challenge a TrusteeSometimes it is necessary to remove a trustee. However, you can only challenge a trustee under certain circumstances. Learn more here.
