Trust Administration

While each trust is unique, Trust Administration typically requires the following activities:

 

  • Obtaining legal documents and records necessary to administer the trust and certify the validity of the trust when dealing with third parties
  • Collecting an inventory of trust property
  • Consulting financial, tax, and legal advisors regarding proper administration of the trust
  • Paying debts and expenses of the trust
  • Managing trust assets and investments
  • Obtaining appraisals or valuations of trust assets
  • Selling trust property
  • Keeping accurate records of trust income and expenditures
  • Filing tax returns
  • Providing a trust accounting to trust beneficiaries
  • Distributing trust income and property to beneficiaries
  • Closing a trust at the end of administration
   

Living Trusts must be properly administered after the Trustor dies. This is a private process that involves locating and valuing assets, notifying beneficiaries, paying expenses and taxes, establishing and administering

 

  

sub-trusts, if necessary, distributing property to intended recipients, and advising successor Trustees. As a named Trustee, it will be to your benefit to seek legal advice, as the trust will have to be administered in compliance with its own terms and in accordance with California state law. The Law Office of Asha J. Wilbun will help you through this process and ensure that your responsibilities are met in a stress-free and orderly manner.

The Law Office of Asha J. Wilbun