What Comes Next After the Death of the Grantor of a Riverside Trust?
There are specific steps when administering a trust and the estate of a deceased loved one. For a beneficiary of a California trust, the first priority should be to obtain a copy of the trust. Consequently, it is this document that dictates what the rights of the beneficiary are. It also determines what steps should follow during the Riverside trust administration process.
The steps for administering a trust include the following:
- The successor trustee named in the Declaration of Trust becomes the trustee in place of the deceased grantor.
- The trustee distributes copies of the trust instrument to the beneficiaries.
- Managing trust assets until they are distributed. This may include ordering an appraisal, investing the assets, renting or selling real estate, or holding the property until a beneficiary reaches a stated age.
- File all necessary tax returns and forms.
These tasks are typically the responsibility of the trustee. Unfortunately, in some circumstances, an inexperienced or inefficient trustee may fail to distribute copies of the trust to all beneficiaries. If this occurs, contact a qualified Riverside trust lawyer who can assist you in enforcing your beneficiary rights.
To learn more about your rights as a beneficiary under a California trust, contact experienced Riverside trust attorney. Call our toll free number today at (888) 443-6590.