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Understanding Trust Administration

Acting As Trustee: Understanding The Trust Administration Process

Being named as trustee in a trust document bestows you with a unique opportunity: the ability to carry out your loved one’s wishes. However, this task is not without legal responsibilities and fiduciary duties. Additionally, while most trusts are privately administered, some trusts may be Court-supervised. Our attorneys are skilled at representing trustees of trusts under both circumstances.

Whether you were named to serve as the trustee of a loved one’s trust, or your spouse has recently passed and you need to fund your sub-trusts, contact our offices today to ensure you are meeting your legal responsibilities and properly carrying out the terms of the trust.

Trustee Guidance Through the Trust Administration Process

At Sakamoto & Ruelas, APC, we have helped numerous trustees successfully fulfill their roles. We can help you with every aspect of this complex and demanding role including:

  • Providing notices required by law
  • Title transfers
  • Petitioning the Court to transfer assets to the trust
  • Property sale and restrictions
  • Sub-trust funding
  • Your fiduciary duties and compensation
  • Accounting (both to beneficiaries and the Court)
  • Guidance on proper disbursements
  • Communicating with beneficiaries
  • Timely and accurate disbursement of assets

Administering a trust does not have to be overwhelming. Our goal is to assist you with streamlining the process and getting the assets distributed to the trust beneficiaries as expeditiously as possible, so that you can return to your normal life. No matter where you are in the trust administration process, we can help.

Trustees Have Legal Obligations

As a trustee, the law confers upon you certain legal obligations. It is critical that you have proper legal counsel during all phases of serving as Trustee so that you receive proper guidance regarding these requirements, some of which include:

  • Fiduciary duties
  • Prohibitions from co-mingling estate assets with your own assets
  • Keeping detailed records
  • Your duty to communicate with the beneficiaries
  • Properly managing and investing trust assets
  • Accounting to beneficiaries
  • Distributing the assets in a timely manner

Legal Representation for Trust Beneficiaries

Were you named as the beneficiary of a trust? Do you have questions about what you are entitled to? Do you want to ensure your rights as a beneficiary are protected? Are you concerned whether the trustee is properly handing the administration of a trust for which you are a beneficiary? We can help! Call Sakamoto & Ruelas, APC, today to schedule a free initial consultation with our attorneys in order to discuss your rights as a beneficiary and what you can do to ensure the trust administration is properly carried out.