Probate, Estate And Trust Administration: An Overview
Probate and trust administration refer to the legal processes of managing and transferring wealth and assets upon a person’s death. The probate process in California is filled with many complex technical requirements that must be followed in order for a court to appoint someone to take charge of the estate (whether this individual will act as “executor” or simply “administrator,” depends on whether there is a will). Once appointed, this representative must make sure he or she complies with the legal requirements of administering an estate and must know what actions require prior court approval. It is possible to implement plans to avoid probate—which is often a lengthy, stressful process—as part of one’s estate plan.
The probate process in California has many technical requirements that must be fulfilled before a court will appoint a personal representative (an “executor” or “administrator,” depending on whether there is a will) to take charge of the estate. Once appointed, the personal representative must make sure he or she complies with the legal requirements of administering an estate and must know what actions require prior court approval.
Understanding The Trust Administration Process
Trusts – when structured and executed properly – can serve as a tool for avoiding probate. Trusts do not have to be filed with the probate court. However, there are still crucial legal steps that must be taken to properly administer a trust and avoid additional legal entanglements.
People who are not professionally trained trustees typically lack the knowledge or time to confidently and properly administer and estate, leaving them open to additional legal actions they cannot afford to deal with. The best option for a nonprofessional or “successor” trustee is to seek the advice and representation of an experienced attorney.
Don’t Wait; Call Today
Please call our office at 805-918-1202 or email us, and we will be happy to schedule a consultation, even if our office did not draft the original trust. We work throughout Ventura County and all of Southern California.