Knowledgeable Probate Attorneys in Redlands Have Experience with Trust Probate Administration and Fixing Botched Trusts
Helping you through the complex trust administration process
After a loved one’s death, control of their trust will likely go to the successor trustee, likely a close relative or friend, whose responsibility it will be to manage any assets in the estate. This can be a complex process, and the trustee must properly manage the trust’s investments and distribute any proceeds to the beneficiaries. It’s a task that’s tough for most people, so be sure to speak with a San Bernardino attorney with James B. Church & Associates, P.C., Attorneys at Law as soon as possible. The firm helps trustees manage estate planning documents effectively, giving you peace of mind about the entire process.
The important role of a trust administrator
Trust administrators have a number of key responsibilities, and even small mistakes may have significant consequences or lead to accusations of mismanagement from beneficiaries. By working with a skilled estate planning lawyer, you can swiftly correct any mistakes, such as failing to notify a beneficiary or incorrectly appraising the value of an item in the trust. Your attorney also assists with the following tasks:
- Preparing notice. Once control of the trust is transferred to the trustee, all beneficiaries of the trust must be notified about the change, how to contact the trustee and where they can review the trust and what it contains. A taxpayer identification number for the trust must also be obtained.
- Preparing inventory. Trustees must prepare an inventory of everything the trust contains, including funds, investments and real property. They must then have those items appraised to determine their exact value.
- Accounting to the beneficiaries. The successor trustee has a duty to properly account for the income and expenses of the trust.
- Filing income and inheritance tax. Determining value is important for a number of reasons, including the calculation of taxes the trust owes. Trusts are typically required to pay both income and estate taxes.
- Trust Litigation. The best way to avoid litigation is to properly administer a trust. However, often times beneficiaries object even without good cause. When this occurs, you need successful trial attorneys to provide legal advice to protect your rights and reputation.
Tireless trust administration attorneys help prevent mistakes
If you need assistance managing a trust or are the subject of mismanagement accusations, you need a trusted attorney behind you. Sometimes these issues arise due to legitimate mistakes, while in other cases unhappy beneficiaries may make unfair claims. Skilled trusts lawyers in San Bernardino make sure you’re protected and that you get through the trust administration process as quickly as possible. Successful trial attorneys to provide legal advice are necessary to protect your rights and reputation.
Meet with a trust administration attorney in San Bernardino County today
For all of your trust administration legal needs, work with the team at James B. Church & Associates, P.C., located in downtown Redlands. The firm is open Monday – Friday, 8 a.m. to 5 p.m., and has plenty of free parking available onsite. Call today at 909-283-0659 or contact the firm online.