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, PC 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.