Trust Administration Lawyers in California

How Long Does Trust Administration Take?

A trust administration can vary in length depending on the complexity of the trust. However, in general, most trusts take about one year to resolve fully. Completing all the steps when going through a trust administration is essential, as skipping steps can elongate the process.

If you are named a trustee, you must file the most current trust within 30 days of your loved one’s passing. Similarly, you must alert any heirs or beneficiaries of your loved one’s passing within 60 days. These beneficiaries have the right to request documents from you, including a copy of the most recent trust, which you must give them if asked. Beneficiaries have a 120-day window to voice their grievances or raise disputes with the trust.

Below are the primary responsibilities of a trustee:

• Duty of disclosure: you must disclose all material facts to beneficiaries and keep them informed on the status of the trust and their assets

• Duty of loyalty: you must act within the best interests of the beneficiaries

• Duty of impartiality: you must treat all beneficiaries equally

• Duty to enforce and defend claims: you must enforce and defend claims if they are reasonable and prudent

Failing to abide by these core duties can lead to legal implications in court and potential liability. Before closing an estate, a trust administrator is often asked to submit evidence of their actions and how they resolved the estate. If the court finds that you did not uphold your responsibilities, you could be held liable for any delays or losses the estate suffered. For more information about the duties of a trustee, contact our law office today.

What Documents Are Needed for a Trust Administration?

Before resolving an estate, you must spend time gathering the essential estate documents that your loved one left. These documents include anything related to the estate plan or documents that might contain your loved one’s final wishes.

While all estate plans are different, the general documents you must gather include:

• Wills

• Trusts

• Asset list

• Property deeds

• Death certificate

• Tax returns

• Funeral instructions

Any beneficiaries and heirs of the estate have a right to ask for copies of these documents, so gathering them and keeping them close is essential. If you cannot find these documents or aren’t sure where to start looking, our legal team can assist you.
If your loved one has not yet been laid to rest, you must follow their funeral, burial, memorial, or cremation instructions left in the trust. Trust administrators have a legal duty to follow these instructions to the best of their abilities. If there is no plan in place, then anyone given power of attorney or named in an advanced healthcare directive has the power to make these decisions on your loved one’s behalf.

How Should a Trustee Review the Trust Administration?

After you have been named as a trustee, you must review every document within the trust very carefully. Interpreting and understanding these documents is essential, as you will be required to follow the instructions within them. Although you are now the trustee, a trust becomes irrevocable after the grantor passes away. This means that you cannot change or add to the trust even if you are assigned as a trustee.

Look for these points as you review your loved one’s estate plan:

• Special instructions about their funeral, burial, or cremation

• Who inherits the loved one’s personal effects

• The date and location where the trust agreement was signed

• Who gets the loved one’s residuary trust

• Who gets any specific bequests

• Who signed the trust as witnesses