Unlike a probate, a trust administration is a private process handled by your successor trustee. The trustee has the power, without Court intervention, to administer your estate according to the terms of your trust. The complexity and length of the administration depends on the number and type of assets, their total value, and whether the trust includes tax planning provisions.
Although a person plans their estate with a Living Trust, the family will still require some assistance following the death of a loved one, to administer the trust appropriately.
If a person has a living Trust, after he/she passes away the Trustee of the Trust has substantial responsibilities under the California Probate Code. Under California law, a Trustee has a fiduciary duty to the beneficiaries to ensure that the Trust is properly administered. A fiduciary duty is the highest duty recognized under the law.
We assist our Trustee clients to ensure that they abide by all of the Trust laws including giving proper notice as required by law to the beneficiaries and properly administering the Trust assets.
Trust administration should not be attempted prior to speaking with competent legal counsel. Many people do not realize that a Trustee is wholly responsible for the proper management and investment of Trust assets and can be held personally financially liable if things go awry.
Our firm has a great deal of experience in Trust Administration in Carlsbad and beyond. The Cardin and Company team counsels our clients so they competently carry out all of their responsibilities and avoid the pitfalls of personal liability. We routinely handle the trust administration process from beginning to end and can assist our clients in making the process move as efficiently and smoothly as possible.