Unlike being a probate administrator, trustees do not have to make any court appearances. That said, if you are the trustee, you may, at times, need to turn to the court for assistance if disputes arise that lead to files being made against you, or if creditors or those claiming to be creditors file claims against you. If you are appointed trustee, seeking legal help from an experienced trust administration lawyer in Placer, California, will make the process much smoother. As a trustee, you are not expected to be an expert in all areas now placed in your responsibility, and that is exactly why having the guidance of a trusted attorney can be to your benefit.
There are two major types of duties for a trustee. The first type is associated with the specific duties appointed by the trust agreement itself. Trust-appointed duties involve many possible tasks and responsibilities depending on the nature and details of the trust. Trust-appointed duties may also vary depending on the nature and age of the beneficiaries involved. Some possible trust agreement responsibilities may include, but are not limited to:
- Managing assets that could remain in a trust fund for many years
- Delegating financial investments
- Managing outstanding debts left behind by the deceased
- Selecting and overseeing agents to help you
- Managing taxes and accounting
- Maintaining and managing legal responsibilities
- Managing issues pertaining to the trust beneficiaries, which may include dealing with any forms of possible elder abuse that could arise, as well as organizing the care and treatment of any aging or ailing beneficiaries
- Managing properties and real estate
- Managing the future solvency of beneficiaries who are minor
Contact a Trust Administration Attorney in Placer
Violation of the terms of the trust or of fiduciary laws can have severe consequences for the trustee. The responsibilities of a trustee are complex and varied, and mistakes can be detrimental. Many newly appointed trust administrators feel overwhelmed and uncertain about their appointed duties. If you were recently appointed as administrator of a trust in Placer and are uncertain what your duties really are or how to perform them, a trust administration attorney can help guide you through the process. Contact McCunn Law to talk to an experienced trust administration attorney. Call today at (916) 827-3427.