Trust Administration Lawyers in El Dorado Hills
Full-Service Trusts & Estates Firm
Contrary to what many people believe, a revocable living trust does not eliminate the need for administration of an estate, but it does make the process easier. The administration process is similar to probate, but the process is handled privately without court supervision, making it faster and less expensive. When you need an El Dorado Hills trust administration attorney, call Forethought Law, PC We have extensive knowledge of the law and a clear understanding of what is likely to happen in a given situation.
The Administration Process
Upon death, the revocable trust remains in existence for the purposes of collecting trust assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries. The length of time this takes may depend on several factors, including the size of the estate, assets, number of creditors, tax issues, and whether assets need to be sold.
When the Court May Become Involved
A living trust will only avoid court if all of the settlor’s assets were funded into the living trust prior to death. If you want to create a living trust to avoid probate at the time of death, it is important to consult with an experienced El Dorado Hills trust administration lawyer to ensure that everything is in place.
The court may become involved when:
- There are assets exceeding $150,000 in value held outside the trust
- A beneficiary files a petition due to a belief that the trustee is acting improperly
- The trustee petitions the court for instructions about selling property or another action
Trustees sometimes petition the court to protect the trustee in the event that a beneficiary questions the decision in the future. Our firm has been called upon to represent both trustees and beneficiaries in trust administration. We have assisted clients in collecting and valuing assets, preparing transfer documents, paying debts, and taxes.
Please contact our firm at (916) 256-3122 to schedule a consultation with an El Dorado trust administration attorney.