San Jose Trust Administration Attorney

When does trust administration occur?

Trust administration is the process that occurs after the death of the person who created the trust, also known as the settlor. The trust refers to a person or entity who will assume the responsibilities of the living trust upon death of the settlor. If there is a failure to fulfill those responsibilities, then the successor trustee may be held liable for issues such as payment errors or additional taxes owed. A San Jose estate planning lawyer with experience in trust administration may be able to provide valuable insight into the required steps, exceptions and other critical services as needed in order to get the best possible result.

Depending on specific circumstances and the complexity of the estate established in the trust, the trust administration process can be quite complicated. The first step is to file the will of the deceased settlor within 30 days of death. A written notice of irrevocability must be sent within 60 days from the date of death to all deceased heirs and trust beneficiaries. Those who do receive notices have the right to contest the trust within 120 days from the date the notice was mailed. The trustee may then take an inventory of all assets in the trust as well as those outside the trust. At this point, the trustee may carry out the terms set forth in the irrevocable trust as per normal.

Trust Administration Support in San Jose

While the steps outlined above may seem relatively easy to execute, there are a great many details within each step that can further complicate the process and make things very difficult. WealthPLAN has operated since 1996 to provide clients in the greater-San Jose area with access to skilled trust administration support and representation services. They are proud to apply the same high-quality dedication as with every client. The firm appreciates the benefit of a qualified professional in issues regarding the estate of a deceased loved one and will work hard to meet all of your needs.

Contact a San Jose trust administration attorney if you are preparing for the process and would like to enlist the support of a trusted professional.

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