Roseville, California Trust Administration Attorney

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Roseville, California Trust Administration Attorney

If an individual has chosen you to act as a trust administrator, it usually means that the individual finds you to be a trustworthy person likely to fairly distribute the estate when the time comes. After this person passes, your role as trust administrator begins. As trust administrator, you will oversee the administration of the deceased person’s (decedent’s) estate, which can include financial assets, property, investments, and valuable items. Then, you will distribute the items to individuals or organizations designated by the decedent (beneficiaries).

Acting as a trust administrator is an important responsibility covered by the laws in the state of California. You will represent the decedent after their passing and will have the official and legal means to sign any documents necessary to transfer assets to the beneficiaries. This is a responsibility that you must approach with care and compassion and with the overall goal of making the process as efficient as possible for those who are grieving. To achieve the process efficiently—and without incurring any liability yourself—it is essential to seek the services of a trusted Roseville, California trust administration attorney.

Roseville Trust Administration Lawyer You Can Trust Call (916) 827-3427

California Trust Administration Law

A trust administrator, or trustee, living in the Roseville, California area has a number of responsibilities depending on the estate and California Law. Fortunately, in most cases, these laws are not overly complicated. In addition, because the descendant has left their estate in a trust, the process of transferring wealth to their beneficiaries happens much more quickly than possible via probate court. In fact, a trust can settle in months compared to years in probate court, resulting in an efficient, favorable outcome for all parties involved.

However, because California law regarding trust administration seems relatively uncomplicated on the surface, it can be tempting to attempt to fulfill your role as a trustee without legal counsel. This is usually a mistake. The average person struggles to navigate through the process of trust administration without inadvertently making some mistakes along the way. Unfortunately, inexperience is not a defense. If beneficiaries unjustly affect the outcome of the estate, financially costly mistakes can come out of your pocket.

A Roseville Trust Administrator’s Liability

If you are a trustee, the decedent entrusted you with one of the most important financial roles there is— following through on the final wishes of a loved one. You must act as quickly and efficiently as possible to distribute the assets to grieving beneficiaries. Unfortunately, inexperience with the law can cause you to make mistakes you may not even be aware you are making until it is too late.

As mentioned, inexperience is not a defense that will save you from liability for these mistakes. You could incur legal fees and court surcharges if the beneficiaries believe you have acted improperly and begin court actions against you. If one of the beneficiaries finds fault in your trust administration role, you may be required to compensate the beneficiaries for financial loss.

Transparent Record Keeping

To prevent liability and ensure the efficient distribution of the estate, thorough, organized, and transparent record keeping is necessary. In addition, you must ensure documentation becomes available to all parties involved in a timely manner. An experienced Roseville, California trust administration lawyer can help you complete and file all necessary documentation and obtain signatures from each beneficiary.

In addition, you must ensure tax forms are complete and filed in accordance with California and Federal law. If not, beneficiaries may incur elevated California property taxes, and you may incur liability. The assistance of an estate attorney can help you ensure the record keeping process completes smoothly.

Long-Term Trustee Responsibilities

In most cases, the trust administration process occurs efficiently and ends with the transfer of assets. However, there may also be some long-term responsibilities that a trust administrator must continue long after the passing of the decedent. Upon the death of an individual, it is important to ensure the completion of certain financial tasks like retiring the decedent’s social security number and credit cards. Without these safeguards, identity theft can lead to long term financial repercussions for you and the beneficiaries.

In addition, the trust administrator may remain responsible for children’s solvency. Depending on the age of the minor children, this may be a responsibility that lasts for many years. Alternatively, if a beneficiary is in danger of making disastrous decisions with inherited wealth due to severe mental illness, addiction, or other situations, the Trustee may remain responsible for the decedent’s assets. All parties involved must approach these situations delicately and with compassion.

Finally, if the decedent owed money to creditors, they may pursue the estate looking for payment. A trustee must ensure that, if required by law, creditors receive payment from the estate in the most efficient way possible. In addition, any creditor payments must be minimally impactful to the beneficiaries.

Find an Experienced Roseville Trust Administration Attorney

An experienced Roseville, CA trust administration attorney will guide you through the unfamiliar trust administration process from implementation to death of the decedent to distribution of the estate. Although California law can mean the path through trust administration seems relatively straightforward, mistakes can become very costly to both you and the beneficiaries. For instance, you must supply documentation to the beneficiaries at specific times during the process, without exception. A qualified Roseville area trust administration attorney can help you ensure that you follow through on your legal responsibility in good faith and to the best of your abilities, avoiding liability along the way.

If another individual has recently named you as a trust administrator, obtaining the services of a skilled trust administration attorney in the Roseville area is the best way for you to confidently move through the process. At McCunn Law, our skilled team of attorneys will work diligently to complete trust administration with efficiency, care, and compassion for all parties involved. If you have detailed questions about trust administration or need legal representation, reach out to the family law attorneys at McCunn Law today to schedule a free consultation.

Why Choose McCunn Law

Our methods for handling business owner divorce and family law issues are unique. We offer legal assistance for a range of family law cases, including:

Mr. McCunn specializes in a holistic, project management approach which empowers you to make your own decisions throughout the process. He has a reputation as a peacemaker and his honest and pragmatic attitude towards divorce and other family law issues ensures you only pay for the services you need during your case.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.

“McCunn Law is a high-quality and highly knowledgeable legal team. I went into a consultation regarding child custody and was extremely happy with the plan and ultimately the results of my case. They create a plan with the client’s needs and wants in mind. Drummond is also great working with regarding what kind of budget a client would be able to afford. If I have any more legal needs in the future this is the office I will use every time.”

Megan P.