If you have recently been named Successor Trustee of a Trust or Power of Attorney, you likely have many questions.
The death or serious illness of a loved one is a difficult time. Whether you have been named successor trustee or power of attorney because someone became incapacitated or has passed away, we know that this can be a difficult time.
In addition to the uncertanity surrounding illness, injury, or mourning, a person's financial affairs need to be handled appropriately. There are legal obligations that must be met and rules that must be followed. An experienced trust attorney is vital to help you through this time and simplify the process for you.
As an experienced California Trust Attorney, we can help whether a person left a will, a complete estate plan with a trust, or no planning at all. Even small estates require assistance to transfer assets, obtain life insurance proceeds, file beneficiary claims, and obtain the benefits you are entitled to receive.
If a revocable living trust is in place, the trust must be administered upon passing.
When one spouse passes, the suriving spouse has legal requirements to fulfill. Proper notices must be filed or recorded with different government agencies. Additionally, the surviving spouse must comply with the terms of the trust and fulfill trustee obligations. An ongoing trusts must adhere to certain requirements to remain valid.
Personal representatives and trustees have many legal obligations to follow. An experienced trust attorney can help you.
Contact our trust administration attorney today to schedule an appointment to discuss your unique needs.