Legal Question in Wills and Trusts in California
trusts
What is a trust administration and how do you go about handling that?
Asked on 4/10/04, 2:28 am
1 Answer from Attorneys
Chris Johnson
Christopher B. Johnson, Attorney at Law
Re: trusts
I guess the easy answer is to talk with a probate & trust lawyer--there are a lot of requirements, depending on the type of trust, and you want to be sure you're not missing any of them as trustee, because you're personally liable for any mistakes/oversights.
"Trust administration" refers to the trustee administering, or running, the trust. This would involve managing the assets, paying bills, sending required notices to government agencies and beneficiaries/heirs, making distributions, paying taxes, and anything else that the law may require for the type of trust being administered.
Answered on 4/12/04, 12:31 pm