Losing a loved one is difficult. Handling their trust shouldn’t add more stress. If you’ve been named as a trustee, understanding what comes next is important. At Price Law Firm, we help families handle trust administration with confidence. Here’s what you need to know.
What Does a Trustee Do?
Trust administration is the process of managing and distributing a trust after the grantor’s passing. Unlike probate, it is typically private and more efficient. As a trustee, your responsibilities include:
- Gathering Documents – Locate the trust, obtain the death certificate, and review estate planning documents.
- Securing Assets – Identify and protect trust property, including bank accounts, real estate, and investments.
- Handling Debts and Taxes – Pay outstanding debts, notify creditors, and file required tax returns.
- Distributing Assets – Once obligations are met, transfer remaining assets as directed by the trust.
Avoiding Common Pitfalls
Trust administration can become complicated if legal deadlines are missed, financial matters are not handled properly, or disputes arise. Mistakes can lead to delays or legal challenges. At Price Law Firm, we guide trustees through every step to ensure the process is handled correctly.
Need Help with Trust Administration?
Handling a trust comes with important responsibilities, and it’s natural to have questions along the way. Whether you need help understanding your duties, meeting legal requirements, or avoiding potential issues, our team at Price Law Firm is here to support you.
With experience in trust administration, we provide clear guidance to help you manage the process smoothly and efficiently. Call our Redlands office at 909-328-7000 or our Riverside office at 951-425-4000 to discuss your situation, or visit us online to learn more.
