ESTATE AND TRUST ADMINISTRATION

Estate administration, also known as a “probate proceeding,” and trust administration are the necessary processes of collecting and distributing your assets following your death. A probate proceeding is carried out in court with a judge overseeing the entire process and is necessary when a person dies without a will or trust or with only a will. The probate courts require that an attorney assist in the probate proceeding. Trust administration is the private alternative to the probate process and involves transferring control of trust assets to the Successor Trustee, at which time the Successor Trustee becomes responsible for notifying the beneficiaries of the death of the Settlor, collecting and accounting for the assets of the Trust Estate, paying the expenses of administration and taxes, and distributing the Trust Estate assets according to the terms of the trust agreement.

While it is not required by law that the Successor Trustee retain attorney assistance in the administration of a living trust, the administration is still highly regulated by IRS and California law and therefore the expertise of an experienced estate planning attorney is always strongly recommended.