Hess-Verdon & Associates

Guidelines: Trust Administration Overview

Trust Administration

TRUSTEE COMPLIANCE

When the trustor dies, the trust administration begins. As a trustee, the grantor has bestowed you with their estate to manage and distribute it per their requirements. Trust administration implements the Trust per the law, per the grantor’s wishes, and the Trust’s terms.  

HOW TO CLOSE A TRUST IN CALIFORNIA

If a California Trustor has recently died and left a trust, a successor trustee will need to know how to close California’s trust. Now, depending on the type of trust will determine the steps to dissolve the trust.  

Let’s get a few facts out at the beginning. Trusts are divided into two camps—revocable and irrevocable Trusts. Once a trustor dies, the revocable converts to “irrevocable,” meaning it can no longer be changed. The successor trustee now enters the picture to consolidate all assets, bank accounts, etc. of the deceased and update all beneficiaries as to the steps they will take. Transparency is the key to a successful trust administration process.

Contact Us TodayWhat is Trust administration?
Estate Planning

Trust administration 

Trust administration processes and procedures revolve around the following:

· Communicating about the Trust and its terms to the named beneficiaries

· Filing the Trust and filing taxes

· Distributing the estate to the enlisted beneficiaries per the grantor’s

· Protecting the assets in the Trust

Connect today to speak with a Trust Administration Attorney. 

Did your spouse (husband or wife) die and wanting to know what you are entitled to?  Learn more.

Trust Administration Overview
“Absolutely top notch firm for handling all your estate planning matters.”
Dean Williams

Client Since 1995

Trust Administration Overview
“Definitely a firm that will “fight to the finish.”
Frances Gruben

Client Since 2010

Trust Administration Overview
“I have been working with this firm since 1994; you can’t beat a firm like this, that is so ethical and competent.”
Dixie Fisher

Client Since 1994

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ADDRESS

Hess-Verdon & Associates, PLC
620 Newport Center Drive Suite 1400
Newport Beach, California, 92660
Office: (949) 706-7300 
Toll Free: (888) 318-4430

Copyright © 2022 Hess-Verdon, PLC. All rights reserved. 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. The verdicts and settlements listed on this site are intended to be representative of cases handled by Hess-Verdon & Associates, PLC. These listings are not a guarantee or prediction of the outcome of any other claims. The information contained on this website is not tax or legal advice and is not a substitute for such advice. State and federal laws change frequently, and the information in this article may not reflect your own state’s laws or the most recent changes to the law. For current tax or legal advice, please consult with an accountant or an attorney.

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620 Newport Center Drive Suite 1400
Newport Beach, California, 92660
Office: (949) 706-7300 
Toll Free: (888) 318-4430

Copyright © 2022 Hess-Verdon, PLC. All rights reserved. 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. The verdicts and settlements listed on this site are intended to be representative of cases handled by Hess-Verdon & Associates, PLC. These listings are not a guarantee or prediction of the outcome of any other claims. The information contained on this website is not tax or legal advice and is not a substitute for such advice. State and federal laws change frequently, and the information in this article may not reflect your own state’s laws or the most recent changes to the law. For current tax or legal advice, please consult with an accountant or an attorney.

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