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 attorney orange county ca

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:

Time to Update Your Estate Plan – What Fewer IRS Audits Mean

News that IRS audits are on the decline may sound like a welcome relief, especially for high-income individuals. Yet, for anyone focused on long-term wealth preservation, a fundamental shift in enforcement isn’t a free pass. Now may be the best time to review your estate planning strategy.  A recent report from The New York Times highlights a consistent drop in IRS…

Continue Reading Time to Update Your Estate Plan – What Fewer IRS Audits Mean

April Newsletter: How to Leave Your Wealth Wisely — Inheritance, Beneficiaries & Trust Strategies

Over the next 20 years, an estimated $84 trillion in assets is expected to change hands from older Americans to younger Americans in what financial experts are calling the “Great Wealth Transfer”, as referenced in a study from USAToday. Our April newsletter provides helpful tips on how to leave your wealth wisely when it comes…

Continue Reading April Newsletter: How to Leave Your Wealth Wisely — Inheritance, Beneficiaries & Trust Strategies

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