Trust Administration in CA

Get Help from an Oakland Trust Administration Attorney

Unlike wills, which go through public probate, trusts are private documents that allow individuals to create specific guidelines for their assets. But a trust still needs someone to oversee and administer the assets included in the trust. This includes contacting beneficiaries and other vested parties, accounting for assets, and investing them when appropriate. Debts must be paid or serviced, creditors have to be informed, and any tax obligations have to be met, including filing appropriate forms.

All of these responsibilities and others fall to the trustee. While drawing up the trust properly is of critical concern during creation, having a knowledgeable, experienced, and reliable trustee becomes extremely important to ensure that the trust functions as intended.

To learn more about trust administration, call me, an Alameda County trust lawyer, at (510) 444-4430.

Duties of Trustees in the Administration Process

The trustee is ultimately responsible for the proper administration of the trust. They may need help in meeting their obligations and avoid potential liability or accusations of mismanagement.

Some of the duties inherent in trust administration are:

  • To act in the best interests of the beneficiaries by showing loyalty and neutrality.
  • To manage assets so they are productive.
  • To make prudent investments of the assets in the trust.
  • To keep trust assets separate from other investments and avoid conflicts of interest.
  • To keep all parties informed in a timely manner of the status of the trust.
  • File all necessary paperwork, such as taxes and periodic accountings.

Call on the Law Offices of Steven M. Simrin Today

There are many issues that can arise in trust administration. Trustees may be uncertain regarding the obligations, disputes may occur between beneficiaries, and some may even claim the trustee is not properly executing the trust.

As a CPA and trust administration attorney in Oakland, I have the training and professional experience to counsel both trustees and beneficiaries on interpreting trust documents and assessing their respective obligations and rights.

Get help from an Alameda County attorney who cares. Contact me today to get started!