What is a trust administration?

A trust administration is a process that must be undertaken upon the death of a person that has created a trust. In California, trust administration is done under the general laws of California. Trust administration is the process of collecting and managing the assets of the trust, paying all of the debts of the trust, filing all necessary tax returns, and then distributing the remaining assets to the beneficiaries of the trust, according to the wishes of the creator of the trust. Trust administration can be a complex process, as in addition to managing assets, trust administrators must often make judgments on behalf of the trust. The trustee must make decisions that are in the best interests of the trust, while also trying to honor the wishes of the trust creator. Trustees are generally responsible to the beneficiaries of the trust, and must report to them regarding the trust administration process. Trustees must also be aware of completing trust administration in a timely manner, as failure to abide by the laws of California can result in significant penalties. Trust administration is an important part of elder law in California, as it is the process by which trust beneficiaries receive the proceeds from the trust creator’s estate. Depending on the size of the estate, trust administration can be a time-consuming and expensive process, so it is important to ensure that the trust is well-drafted and administered in the most cost-effective manner possible.

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What is a trust administration?

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