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WHAT IS TRUST ADMINISTRATION? After the passing (death) of the grantor trustee (the person who created the trust), certain steps must be taken to ensure complying with state laws, to preserve the federal estate tax exclusion amount, and to change title to assets that belong to the trust. This process is called “trust administration”, and the complexity of this process will depend upon the number and type of assets within the estate, their total value, and whether the trust had included tax planning provisions during trust administration. What has to be done? Major assets (property, collections, vehicles, etc.) must be appraised and a complete inventory of the estate belongings must be prepared to determine the new worth of the decedent for federal estate tax purposes. Income tax returns also must be filed for the decedent and for the estate. If the trust has become all or partially irrevocable as a result of the death, the decedent’s heirs and trust beneficiaries must be notified of that fact and given a chance to request copies of the trust. State law requires that the will be filed with the Superior Court in the county in which the decedent was residing. If the decedent owned real property (real estate) a notice of death must be sent to the County Assessor’s office in each county where the property was owned. The advice of an estate planning attorney and qualified accountant are very important in helping the trustee with administration and final distribution of a living trust.

Anne M. Campbell, Esq.

Call to make an appointment in Northern California counties: (707)449-0800 For appointments in Central California or with other questions: (805)594-1669 Anne@AnneCampbellLaw.com State Bar # 114687
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