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The Administration Duties Of A Trustee

Every trust names an administrator (known as the trustee) whose job it is to manage the assets in the trust fund. The trustee must act in good faith to carry out the wishes of the grantor (the person for whom the trust was drafted). Responsibilities assigned to the trustee include:

  • Notifying all beneficiaries that the trust is active
  • Identifying all property and other assets held in the trust
  • Transferring real property titles held in the trust to beneficiaries
  • Transferring ownership of fiscal assets to beneficiaries
  • Ensuring that debts and taxes are paid

When it’s time to transfer assets and carry out the other duties of a trustee, having an experienced attorney by your side can alleviate a lot of stress. At Rita Holder Law, we have more than 25 years of experience administering trusts. We can guide you through the administration process and help save you time and money.

How We Can Help Administer Your Estate

As a trustee, you are required by law to act in good faith to carry out the directives of the trust. If the trust incurs losses due to errors on your part, you can be held liable. Ignorance of specific trustee responsibilities or requirements is not a defense accepted by the court. Our legal team can ensure that all of your responsibilities are administered in the most efficient, cost-effective way possible.

Responsibilities that we can help you with include:

  • Contacting the IRS for a Tax ID number for irrevocable trusts
  • Creating a fiduciary accounting of the trust assets
  • Locating all assets both inside and outside the trust
  • Contacting the probate court when necessary
  • Ensuring you understand the terms of the trust

We can also ensure that beneficiaries are well informed on the progress of the trust administration to avoid any misunderstandings. Our goal is to give you peace of mind as we deal with the complexities of your trustee responsibilities.

Contact The Trustee Administration Lawyers At Rita Holder Law

If you are looking for legal guidance in carrying out your duties as a trust administrator, contact Rita Holder Law by calling 925-401-7885 or completing our online contact form to set up an initial consultation.