Trust Administration

A trust goes through several phases during its life.  And at the transition points between those stages, there is some administrative work to be done.

A common lifecycle for the revocable living trust of a married person is:

  1. Life of trust creator
  2. After trust creator’s death, during life of spouse
  3. After trust creator’s and spouse’s death

Unlike a will, the administration of a trust is private, with no involvement from the probate court.  But there are some similarities.  The successor trustee has duties and obligations:

  • to establish control over trust assets
  • to follow the terms of the trust
  • to show loyalty to, and deal impartially with, all trust beneficiaries
  • to keep good records and provide an accounting to beneficiaries

We help trustees with trust administration so that they fulfill their duties and perform their jobs well.