Trust Administration
If your loved one had a trust (also referred to as a “living trust,”) the family must go through a process called trust administration. Trust Administration is a process that does not normally involve the court, but does have certain requirements for distributing your loved one’s wealth. The trust administration process is a much more streamlined and efficient process than probate, and can typically only take four months, but usually not more than a year. There is no court process involved with a trust administration.
Who Handles A Trust?
If you are named as a successor trustee to your loved one’s trust, I can
guide you through the process of distributing those assets legally and
efficiently. If your loved one has a living trust and becomes incapable
of handling his or her own affairs for the remainder of their lifetime,
you may be named the successor trustee of the trust. With my assistance,
I can easily put the trust administration process in place for you.
The
beauty of a trust is that the trustee does most of the work—not the attorney.
I just provide the guidelines—sort of like dotting the “i’s” and crossing
the “t’s” to get the trustee established in the role. The trust administration
process is a much more private process than probate, since no court is
involved.
What Is The Cost Of A Trust Administration?
The fees for trust administration are not set by law (unlike probate) but are based on an attorney’s hourly rate. However, since a trust is already a set legal document, trust administration is rather straightforward. There are laws that a trustee must follow when administering a trust and I provide the guidelines, the rules, and the documentation for the trustee, creating an efficient, easy process to follow.
If you are a successor trustee or an executor and need help navigating the complicated process of administration contact Bridgett Mackay today at 707-769-9975.
Serving Sonoma County & the Communities of
Windsor • Santa Rosa • Rohnert Park • Sebastopol • Petaluma • Sonoma • Novato • San Rafael
