Trusts are often formed during estate planning . A trustee is designated to handle the assets within the trust. Trustees have a responsibility to protect the interests of the beneficiaries, safeguard the assets held within the trust, and administer the trust in a way that is consistent with the decedent’s final wishes. Trust administration is a highly complex process that must be performed in accordance with estate planning laws. It is highly recommended that designated trustees seek the counsel of a lawyer in Tracy at Bakerink, McCusker & Belden who can help them fulfill their duties.
A lawyer can help you identify the financial documents and other information you need to compile in the wake of the death. You’ll also need to stay in close contact with the executor of the individual’s estate because the executor may transfer non-trust assets to the trust. Your lawyer can help you locate the will and file it with your local probate court, make the necessary notifications of the death, and notify the beneficiaries. Then, you’ll need to complete an array of other tasks associated with trust administration, such as reviewing trust investments and paying off debts.