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Trust Administration

Trust Administration is the process of paying creditors and distributing assets to beneficiaries, usually without court intervention, after a person creates a trust and then passes away.

If you have recently lost a loved one, we are sorry for your loss. Let us help you with the administration and distribution of your loved-one's estate.

If your loved one did not create a living trust or properly title assets in the name of the trust (i.e., "fund" the trust or "vesting") before his or her death, probate may be required. For more information on probate in California, Click Here.

A trust is a contract that usually sets forth who will manage one's assets, how bills will be paid, and how distribution of one's property is to take place upon death.

Named in a trust are the trust asset manager(s) called the "trustee(s)" and, generally, "successor trustee(s)." While the creator(s) of a trust (often referred to as the settlor(s), trustor(s), or grantor(s)) are living, they are generally the trustee(s) of their own trust. This means that they are in charge of their trust and can, generally, do as they please with the assets in the trust.

Upon the death of the settlor(s) (i.e., the creator(s) of the trust), the duty to follow the terms of the trust and to hold, administer or distribute property listed in the trust to the beneficiaries passes to the "successor trustee(s)."

In trust administration, we advise "successor trustees" in their duty to follow the terms of the trust, pay bills and distribute assets to the beneficiaries.

The trustee's duties often involve securing assets; giving notice to beneficiaries, governmental agencies and creditors; marshalling assets; paying bills; filing taxes; liquidating assets; accounting to beneficiaries; and, distribution.

Trust Administration generally takes much less time than the probate process (sometimes just a few months), and it can cost significantly less. At our office, the cost to administer a trust may be as low as $1,500 to $3,500 (minimum $1,500) depending on the situation. We can help you at each step in the process.

To watch a short video on trust administration by Long Beach Estate Planning and Probate Attorney John T. Anderson, Click Here.

DISCLAIMER: The information contained in this website is intended to inform the reader, generally, of issues in California estate planning, trust, and probate law and is not to be the final resource, and should not be considered legal advice. The information is not intended to be all-inclusive. To obtain detailed information or advice regarding a specific legal problem, you should contact a qualified attorney in your geographic area and state. Although attorneys John T. Anderson, Lisa R. Norman, Erin M. Anderson, and John T. Anderson, Jr. (“Attorneys”) intend that this website be correct, complete, and up-to-date, they do not guarantee it to be. It is not intended to be a source of legal advice, thus the reader must seek out specific advice, from competent counsel. Attorneys do not intend links on this website to be referrals or endorsements of the linked entities. Sending e-mails to John@trustlaw.ws or other e-mail addresses associated with attorneys or staff at The Law Office of John T. Anderson does not create, and receipt does not constitute, an attorney-client relationship. No representation is made that the quality of the legal services provided by Attorneys exceeds that provided by other lawyers. To the extent that this website is deemed an “advertisement,” Attorneys advertise only in California and do not seek to represent a person based solely on that person’s visit to this website. Attorneys are licensed to practice law only in California and are willing to appear in courts only in California. Attorneys maintain one office located in Long Beach, California.

The Law Office of John T. Anderson
1741 E. Wardlow Rd., Long Beach, California 90807

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