Monday, January 13, 2014

Many Things to Consider in Settling a Living Trust

Lynn A. Dean
Estate Planning Attorney
After the Trustor dies, the successor trustee is responsible for administering the deceased's trust and distributing the property in accordance with the terms of the trust. The process takes place outside of a court and is usually done with a team approach between the attorney and in some cases the clients' tax and financial advisors so that everyone is working with the same goals and understanding. In most cases, only a limited amount of paperwork is needed to settle and distribute a living trust, but keep in mind settling an estate after a person dies takes time. Typically the activity that takes the longest is determining what will be done with the personal property at the decedent's home.

There are many situations that may arise in settling a living trust and we provide some examples on our website under Trust Administration. A lawyer's assistance will be helpful, but is not required by law. If a legal problem arises, California law provides a procedure for submitting trust questions and disputes to the court.

At the Law Office of Lynn A. Dean, we have the experience to step into simple and complex situations and guide the Trustee through the process to protect the estate's value for the benefit of all beneficiaries. This includes working the trustee to resolve any issues quickly.

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