Trust Administration in Santa Rosa

Obtain the Help You Need

Losing a loved one can be incredibly difficult and confusing. You may be faced with many problematic decisions and tasks after a loved one passes. If your deceased loved one had a trust and you are named the successor trustee, it is your job to ensure the wishes in the trust are followed. If you have never administered a trust, this process may be extremely challenging, which is why it is ideal you hire an experienced Santa Rosa probate lawyer to assist you. At the Law Office of James D. Krupka, I, Attorney James Krupka, have years of probate and estate planning experience and have helped hundreds of individuals and families in and around Santa Rosa resolve their probate and estate planning problems.

What does administering a trust involve?

If you are named the successor trustee of a deceased loved one's trust, it is your job to first notify all trust beneficiaries and heirs about the passing of the settlor, or trust creator. This notice must be sent within a specific time period of the settlor's passing and beneficiaries have the right to request a copy of the trust.

The notice must also include specific information including:

  • The settlor's identity and the execution date of the trust
  • The name, address, and phone number of each trustee
  • The address of the physical location where the main place of administration of the trust is located
  • Any other information required by the terms of the trust, if necessary
  • An explanation that the recipient is legally entitled to receive a copy of the trust

Once a notice is sent, you must then wait a certain amount of days to determine if any beneficiary is going to file a contest. If real property is included in the trust, you must follow specific steps to manage, sell, or distribute said property. All other assets must then be identified and transferred into your name as the successor trustee. This requires a federal tax identification number and is imperative in the event any income earned from assets in the trust is reported to the IRS.

All debts and taxes must be paid before you can distribute assets to the rightful beneficiaries. If you are unsure of what types of taxes need to be filed, it is vital you work with a lawyer to ensure you file the correct forms. Once assets are collected, all debts are paid, and tax returns are filed, all remaining assets must be distributed according the terms of the trust. If the trust requires assets to be held in a trust for specific beneficiaries, you must then create sub-trusts for said individuals.

Contact Me Today

Attempting to administer a trust without any prior trust administration experience and knowledge can make your life very difficult and stressful. I have helped hundreds of successor trustees successfully administer their deceased loved ones' trusts and I am prepared to help you do the same. Consultations are available, so if you would like to learn how I can help you with your probate or estate planning needs, please contact my office today or fill out a case evaluation.

Contact Us

Law Offices of James D. Krupka
Santa Rosa Estate Planning Attorney
Located at: 509 Orchard Street,
Suite A,

Santa Rosa, CA 95404
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Phone: (707) 509-8692
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Disclaimer

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.