Trust Administration Lawyer in Whittier, CA

The Process of Trust Administration

Trust administration is the process that goes behind managing the assets within a trust. When a trust is created, the individual creating said trust is referred to as the Grantor. The Grantor then nominates a Trustee to take responsibility of managing the assets for the beneficiaries the ones inheriting the assets within the trust. This elected individual can either be the Grantor him or herself or a trusted individual. If the Grantor takes responsibility as the Trustee, they may also elect a Successor Trustee to take over if they become incapacitated or pass away. At Mary E. Mullin, Attorney at Law, we can assist you with the trust administration process and provide you with the necessary tools needed to do so.

Responsibilities of the Appointed Trustee in Whittier

If you have been appointed as a Trustee, you are held accountable for managing the assets held within the trust. You are also held accountable for making sure that the assets get passed down properly to the beneficiaries. There are certain guidelines and conditions that a Trustee must abide by. For instance, the trust may specify that a certain portion of the money is distributed to the Grantor's children over a certain period of time. At our Whittier estate planning firm, we understand that this can be an overwhelming situation; especially in circumstances in which you are facing the loss of a loved one. From setting up the Affidavit of Death of the Grantor, to assisting you with the trust administration process, we can help get you started in the process.

In order to be an efficient Trustee, there are certain skills that can help you through the process. These skills include being organized, careful, honest, patient, and putting your best effort in. You do not, however, need to be an expert in trust administration law. Instead of going through the process alone, let our experts assist you along the way. Our Whittier estate planning lawyer has extensive expertise in the matter.

Let our Los Angeles County estate planning firm assist you!

When it comes to circumstances involved in litigation, the process of a case going through court, we bring in litigation counsel to assist. The process of trust litigation can be an overwhelming process; from managing the assets withheld in the trust to oversee the delegation of those assets to the beneficiaries, there are a lot of responsibilities in the matter. This involvement can also be especially difficult if you are facing the loss of a loved one, the Grantor in this matter. With our Whittier estate planning team of experts, we would be more than happy to assist you in the process: whether it is to answer any questions you have to get you started in the process.