Living Trusts Administration – A To Do List

Your Los Angeles and Glendale Living Trusts Lawyer with an update on Trustee duties following the Settlor’s death.

We represent many Trustee clients in Living Trusts Administration matters where Trustees are often unclear on their duties following the Settlor’s death.  To assist those of you that are acting Trustee’s of Living Trusts, the following tips should assist you in planning for the future and in the event a Settlor passes away.

A trustee should:

1 – Immediately gather all information related to the Settlor’s and Living Trust’s outstanding debts and liabilities (mortgage payments, credit card payments, judgments, creditor issues, etc);

2 – If the Settlor was receiving Social Security, notify Social Security of the Settlor’s death;

3 – Provide the proper notices to all beneficiaries per the California Probate Code;

4 – Get your accounting of the living trust done;

5 – Inventory all living trust assets;

6 – Even in cases where a probate will be avoided, and no probate petition will be filed, you still need to file the original Will with the Court in the county the decedent lived for safekeeping purposes, per the California Probate Code.

7 – Get copies of death certificates as you will need them to provide to financial institutions, to claim surplus funds in cases where trust assets are sold, and to provide to beneficiaries upon request.

This isn’t an exhaustive list, but merely a short check list of things a Trustee should do when a Settlor of a living trust passes away. In short, gather all information, get organized, and prepare ahead of time for the distribution of the estate.

If you have any questions about living trusts administration, please call us at (818) 835-5396.

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