Richard Q. Huynh
Trusts & Estates Attorney
“How will the terms of my trust be executed when I pass?”
Trust administration is the process of carrying out the terms of the trust both during incapacity and after death. Trust administration is, unlike probate, a non-public process carried out with minimal court cost and intrusion. The trustee of your trust is responsible for executing the terms of your trust. The duties of trust administration include:
Marshaling the assets of the trust estate
Accounting for property within the trust and distributing assets in accordance with the trust terms
Paying debts, taxes and other costs of trust administration
Selling or distributing the property to beneficiaries
Giving proper and timely notice to all beneficiaries under the trust
Your trustee has a fiduciary duty to your trust beneficiaries, and can be liable to a litany of damages if the terms of the trust are not executed properly.
Contact Richard to advise you on this confusing process and to ensure compliance with the law and the trust terms.