TRUST ADMINISTRATION

Heritage Law, LLP offers dependable and cost-effective counsel for trustees, successor trustees, corporate trustees, and professional fiduciaries. We represent both local clients and clients from other states with California trust administration responsibilities.

California law imposes numerous duties on trustees. Administration of trust assets is not automatic. There are tasks that require immediate attention upon the death of the grantor and there are ongoing responsibilities required of the trustee throughout the period during which time the trust is in existence. The difficulty or ease of administrating a trust depends on many factors such as the type of assets held by trust, the dispositive terms and the sophistication of the trustee.

Trustees must comply with complex notice and other requirements within strict time frames. The trustee also manages the trust assets and may be required to provide regular accountings to the beneficiaries. Other duties include, but are not limited to:

  • Maintaining detailed and accurate trust accounting records
  • Handling real property concerns and transfers
  • Making distributions in accordance with the trust's terms
  • Preparation and filing appropriate tax returns
  • Safeguarding the trust assets
  • Exercising diligence, skill and caution in managing the trust

Professional legal guidance is essential for navigating this maze of legal requirements. Heritage Law, LLP is here to guide you through the process. We can inform you of all your legal duties, and assist you in completing them. You will have plenty to do in the process, but with our guidance, you can feel confident that you are addressing the requirements under the law to avoid acting negligently, and avoid being held liable for not knowing about certain required processes.

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