Done correctly, California trust administration is a lengthy and sometimes agonizing process. You might be dealing with pressure from beneficiaries who don’t want to wait to receive the assets. Maybe a beneficiary has an especially compelling reason to speed up the distribution of an estate. You’d like to help by finalizing their inheritance as soon as possible. You’re probably dealing with confusing terms, impatient beneficiaries and more than a few unhappy surprises.
It’s frustrating that, in cases where California probate isn’t necessary, executing a trust could be a quick process. There are no required waiting periods, and assets should already be allocated to the trust. That means that title transfers could happen inside of a few days.
What Goes Wrong?
- Assets aren’t transferred,
- Terms of the trust aren’t clear,
- Beneficiaries come forward with conflicting claims.
Rushing the execution of a trust could leave a beneficiary without their assets. This means the decedent’s expectations weren’t met and the trustee hasn’t done their job. Consequently, beneficiaries will hold you responsible for any mistakes, and with good reason.
The primary reason for doing trust administration—and doing it right—is the lasting impact it will have on the lives and future options of your beneficiaries.
As a California trustee, it’s in everyone’s best interests for you to understand what a full trust administration process will entail and plan for it accordingly.
If you’re the trustee or executor of a California estate with questions or concerns, the San Diego probate lawyers at The Grossman Law Firm might be able to help. We offer San Diego trust administration, will contests, probate, and estate planning services. For a free, 30-minute consultation with one of our lawyers, call toll-free 888-443-6590. You can also reach us online through our quick contact form.
Also, request your copy of Scott Grossman’s FREE book, The Insider’s Guide to California Probate and Trust Administration.
AttorneyThe Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307