The terminology of a trust can be confusing and the duties you just inherited as trustee can be overwhelming. You CAN do this, we can help.
How to Choose A Trustee
The trust administration varies between a short, simple process to a long, complex process. The trustee has to understand their obligations to make sure that he or she is functioning legally within California statutes and the trust’s instructions.
What You Should Know About Trusts
A trust is an arrangement that is used to transfer a settlor’s (the person who created the trust) belongings, and property to one or more people to take care of and protect. Settlors often create a very common type of trust called a revocable trust and use it to manage their assets over the course of their lives. Family members are often appointed as the successor trustee to the trust, yet they may not have any prior knowledge of the trust and are unknowing of the responsibilities of the successor trustee. Once the settlor passes away, the trust is no longer revocable and the trust explains how the settlor’s assets will be distributed to beneficiaries. This process is called Trust Administration.
San Clemente Estate Law will thoroughly assist you through your trust administration, which is the process of guiding you through each step of the trust’s instructions upon the settlor’s death. We will handle the necessary paperwork and give the proper notices as required by law and as outlined by the terms of the trust.
Do You Need A Trust?
Distributing Assets to Children
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