Trust Administration

Fremont Trust Administration Lawyer

Alameda County Trusts Attorney

JOHAL LAW APC can help you create an estate plan, including trusts, as well as assist in trust administration.

In a trust there are generally three parties: a settlor, a trustee, and a beneficiary. The settlor provides the funds for the trust, and may or may not be living when the trust is created or issues arise. Conflicts between trustees and beneficiaries are not uncommon. We represent either party. Contact us online.

Duties of the Trustee

The settlor usually chooses a bank or a family member as trustee. If you are a family member or other non-professional trustee, you typically do not charge a fee for your services, and you may need guidance in your responsibilities. These include:

  • Notice to beneficiaries
  • Inventory and appraisal
  • Managing the assets
  • Preparing an accounting
  • Paying taxes, and
  • Distributing money to beneficiaries.

Many of the duties of the trustee will be spelled out in the trust itself. Failure to handle the trust properly can raise allegations of breach of fiduciary duty. Let us guide you.

If You Are a Beneficiary

Beneficiaries may be an individual, multiple individuals, or an organization such as a charity. If you are a beneficiary who feels the trustee is not handling the trust responsibly, speak with an attorney. You are entitled to an accounting according to the trust document.

If You are Creating a Trust

Trust administration is particularly important in certain trusts such as a living trust created jointly by husband and wife. To minimize taxes after the death of the first spouse, the trust must be divided. Proper trust administration is part of an effective estate plan. Call us to help with that part.

We serve the Fremont area and take a personal interest in each client. We will keep you informed about the legal process, explain the law, and answer all your questions. Call 510-402-1578 or contact us online for an appointment.