Trust Administration

Trust administration is the process of managing and distributing assets that are held in a trust. When the person who created a trust (settlor) passes away, the assets in that trust must be distributed to the beneficiaries. Trusts provide a high level of control over how assets are handled, allowing settlors to set specific terms for administration. Trust administration in California can be a demanding process if the person in charge of handling the trust (Successor Trustee) is unfamiliar with the necessary procedures and regulations.

As part of the trust administration process, trustees often must notify beneficiaries, contact creditors, handle tax considerations, settle debts and transfer ownership of trust assets. Trustees must also take note of statutory requirements and strict deadlines. In addition to all of these tasks, there is perhaps the most important duty of a trustee, which is to honor the settlor's legacy. This can be difficult to do if the trustee is overwhelmed with an extensive list of to-dos and feels the weight of complex legal requirements.