What Is Trust Administration?
Trusts are created for several reasons — to protect assets, dispose of an estate, and ensure that assets are used for a specific purpose, such as the continued care of a special needs or disabled individual or for tax planning.
Trust administration usually begins upon the death of the settlor. Trust administration is the responsibility of a trustee to manage the distribution of assets of a trust. This process is time-sensitive and often complicated. Furthermore, a trustee must manage investments, pay taxes, settle financial obligations, and file numerous necessary legal documents.
Trust Administration Is Complicated. A Trust Administration Attorney in Orange County CA Can Help
We advise trustees to have an experienced trust administration attorney to guide them through the process. Here at Law Stein Anderson LLP, we know that enduring the passing of a loved one is one of the saddest and most stressful situations to go through. It is a time when you and your family should focus on grieving your loss and finding healing moments. Trust administration can feel even more complicated during such a difficult time.
Trustees aren’t usually experts in all areas of trust administration. In fact, trust administration can be quite perplexing to most people. To carry out your fiduciary duties as a trustee, you may need assistance from an attorney. We help prevent families from struggling through conflicts during the trust administration process. We assist all heirs in understanding the terms of the trust so that we may simplify what can otherwise be a complicated situation.
A Law Stein Anderson trust administration attorney in Orange County, CA can review the trust agreements and advise you of your rights. Furthermore, we make certain that all legal requirements are being complied with while helping you manage tax matters and submit essential documents. We are well versed in tax and estate planning. For that reason, we can explain how each portion of the trust operates, and what your options are. We have the answers to your legal concerns and questions. Leave the management of trust administration to us. We will walk you through trust administration every step of the way and fulfill your legal duties as a trustee.
Read our latest articles on trust administration and estate planning:
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When New Year’s Resolutions Fade, Smart Estate Planning Lasts
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Year-End Gifting and the Annual Gift Tax Exclusion
By Bryan K. Johnson, Esq. As the year comes to a close, many people hear about the annual gift tax exclusion and wonder whether making a year-end gift is worth the effort, especially if time is short. Even simple gifts, when used consistently, can play an important role in reducing potential future estate tax exposure. For 2025, individuals may…
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Year-End Tax Planning: Important Tax Savings Before December 31
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