A Trust administration is the process of marshaling the assets of the Trust, paying valid debts of the Trust, and distributing the assets to the designated beneficiaries. A Successor Trustee is a fiduciary, and he or she has a legal obligation to take certain steps as specified in the California Probate Code and the Trust document. This means that if the Successor Trustee fails to follow the proper steps of administration, act negligently, or breach his or her obligations, they may be subject to personal liability.
Following the death of a loved one, if you learn that you were designated as the Successor Trustee of their Trust, the knowledgeable attorneys at Gold Law can help guide you through the steps of a trust administration so you will have peace of mind in knowing that you are properly fulfilling your obligations as Successor Trustee.