Successor Trustee Checklist:

Your First 30 Days After a Living Trust Maker's Death

Note: This is a summary only and not legal advice or an exhaustive list of everything that may need to be done. However, the good news is that the most key items are listed here, and all of these are not required to be completed within 30 days! If you can at least begin these within 30 days, the Trust Administration process may be completed a lot more quickly. It is recommended that you proceed with these steps in the order they appear.

☐ 1. Take Care of Yourself and Family Members

• If you are alone, contact a friend who can spend the next few hours with you. Shock and trauma can take unexpected forms.
• Contact the decedent's immediate family, close friends, business colleagues and employer.
• Arrange for care of members of the immediate family, including appropriate childcare, having people at the decedent's house, etc.
• Resist demands from others to immediately pay bills, draw money from accounts, transfer assets, sign contracts, make loans, or take other actions except as stated below.

☐ 2. Notify a Funeral Director

• Contact a funeral director and appropriate clergy and make an appointment to discuss funeral arrangements. Before finalizing arrangements, check if there were any special requests from the decedent (such as burial at a specific site or cremation). Such requests may be found in the estate plan legal documents, in the decedent's notes or in contracts with third parties for these services.

☐ 3. Gather Estate Planning Documents

• Locate the original Living Trust, any and all Amendments, Wills, Powers of Attorney, Health Care Directives, and any other important looking legal documents.
• Identify the Successor Trustee provisions of the Trust and verify that you are the Successor Trustee.
• Determine if there is a Safe Deposit Box where other documents may be stored (entry to it will require completion of Step 6 below).

☐ 4. Order Original Certified Death Certificates

• Usually available from the Funeral Director or the County Recorder (or Vital Records) Office.
• These will be necessary when dealing with banks, investment and insurance companies, Social Security, decedent's employer, and other third parties.
• Get at least 5–10 originals (not copies) plus 2 for each piece of real estate. (It is better, given the relatively small, additional cost, to obtain more than you may think are needed, as they often take 4-8 weeks to receive).

☐ 5. Set an Appointment with a Qualified Torrance and Surrounding South Bay Cities Attorney and Meet Soon

• See our other checklist, "How to Choose a Living Trust Administration Attorney."
• It is best to meet the attorney after you have handled Steps 1 to 4, including have received the Death Certificates.
• The Trust Administration Attorney will review the Estate Plan Documents to evaluate what steps will need to be taken to complete the Administration, how he or she may help you, and to quote their fee.
• When you engage us, we also provide you a plain-English Trustee Manual with useful checklists that will guide you through the entire administration process.

☐ 6. Obtain from the Attorney a Certification (or Affidavit) of Trust

• A short document you'll use to prove to third parties your authority to act on behalf of the Trust.
• You should be able to get this at the initial Attorney meeting above (or shortly after).

☐ 7. Obtain a Taxpayer Identification Number (EIN) for the Trust

• The Attorney may also get this for you at the initial meeting (or shortly after).
• This will likely be required for the Trust to properly report its income and file Tax Returns.
• It may also be required by banks, investment companies and other third parties when you take the next steps below.

☐ 8. Secure All Trust Assets

• Take control of all trust-owned assets, such as bank and investment accounts.
• Safeguard real estate, personal property, valuables and digital assets (including online banking).
• Arrange for statements, bills and correspondence to be sent to your mail or email address.
• Change the title of accounts and assets to reflect your name as Trustee of the Trust.
• Start to gather asset and account statements, deeds and property tax bills.
• Maintain adequate insurance on valuable assets by making sure that existing coverages will continue after the decedent's death and making a note of expiration dates on applicable policies, while also checking that coverage reflects current market values.

☐ 9. Open a Trust Bank Account

• This account will be used to collect or deposit income, pay bills and make distributions.
• Never use your personal account – this could lead to comingling and expose you to personal liability. (It's okay, during a short, temporary period, for you to pay bills personally and then reimburse yourself once this Trust Account is opened)

☐ 10. Start Recordkeeping and Accounting

• Track all trust income and expenses.
• Keep receipts, invoices, statements, and copies of checks written.
• Maintain clear records in case a beneficiary later requests an accounting.
• This information will also be needed to file tax returns.

☐ 11. Notify the Trust Beneficiaries

• This is required in a format dictated by state law.
• It typically will include a copy of the Trust.
• This should be handled by the Attorney, shortly after your initial meeting, to best protect you from unnecessary liability.
• Notices may also be required to Creditors and life insurance companies.

☐ 12. Create a Detailed Asset Inventory

• List all trust-owned and individually owned assets, including:
  • Real estate
  • Bank and investment accounts
  • Retirement accounts (IRA, 401(k))
  • Life insurance
  • Valuable personal property and collectibles
• Obtain date-of-death valuations for tax and distribution purposes (your Attorney may assist you with these). This will often take more than 30 days.

Why Do It Alone? Work with an Experienced Torrance and Surrounding South Bay Cities Trust Administration Attorney

Although Living Trusts usually avoid Probate, administering a Trust still involves complex legal and tax rules. A qualified attorney will help you:

• Ensure your notices and distributions comply with the law.
• Protect yourself from lawsuits or disputes.
• Save time, avoid costly mistakes and enjoy peace of mind.

Let's Help You Do It Right – Relieve Your Stress and Protect Yourself.

During the past 43 years, we at Kavesh, Minor, and Otis, Inc. have assisted Trustees with over 4,000 Trust Administrations.

Schedule a Free Initial Attorney Consultation, if You Qualify.

And Get an Exact Fee Quote at the Meeting.

To determine if you qualify, call us at 1-800-756-5596 or fill out the form on the right of this page.