Trust Administration

Trust Administration

We know Trust Administration can be complicated, confusing, and overwhelming. Grief and misunderstandings will make this process even more difficult for your loved ones. At First Class Counsel we can help you resolve disputes, avoid prolonged litigation and deal with any obstacles or challenges. The responsibility of managing a trust is a huge one that comes with authority and many obligations. Unfortunately, very often, the trustee may find that his or her role comes under criticism from beneficiaries and other parties. In such cases, it is important to have sound legal guidance about your rights under the law from an experienced Trust Administration attorney.

Once a loved one has passed away, a family member or a trusted friend may find it difficult to serve as a trustee. A trustee is a person responsible for the proper administration of your trust. During this difficult time, the trustee must deal with complex legal, financial and family issues that may arise in administering your trust. The task of reviewing the trust, gathering and valuing assets of a recently deceased family member can be overwhelming and extremely stressful. The trustee may face many pitfalls and traps if he/she attempts to administer your trust without proper legal representation, and liable for breach of trust or breach of fiduciary duty. Your trustee needs sound advice, experienced legal representation and guidance.

Our experienced attorneys can help protect your rights as a trustee.

It is likely that you do not have enough legal knowledge and understanding of estate law, probate laws, or the estate probate process. We can help you handle the day-to-day management of your estate and tackle situations appropriately if probate law problems emerge.

A trustee must keep comprehensive accounting records. Trustee must keep track of expenditures, deposits, and disbursements related to trust funds. Our attorneys will work with you in order to determine the extent of your accounting obligations. A trustee will benefit from retaining the help of our probate lawyer for the smooth running of this process. Such representation by an experienced probate attorney is even more important when you are in the middle of a dispute with beneficiaries or during any kind of probate court action against you.

The executor of a California estate must file income tax returns on the estate for Federal Tax Purposes. An estate tax is most notably levied at the federal level, and it is charged to a decedent’s estate when their assets pass on to their beneficiaries. However, most estates will not encounter the federal estate tax, as it only applies to estates worth more than $11.7 million for 2021. Because this tax can have a significant effect on your beneficiaries, it is best to plan ahead for it in your estate plan. We will work with you to maximize an estate plan specifically designed for you and your loved ones. Our knowledgeable, experienced attorneys can assist you with all Estate Tax-related matters.

First Class Counsel is all about making the difficult task of Estate Administration easy for you and your loved ones.

We start by explaining the trust terms and provisions, as well as the procedures you must follow as a trustee and advise you regarding your legal duties and obligations. Ensure that the proper trust notices are sent to beneficiaries, creditors and government agencies. We continue with Assistance identifying, gathering and valuing your trust assets. Advice regarding the proper distribution of these important assets. We also guide and assist in the sale of your real property, and prepare a trustee’s report and accounting. Finally, we provide trust litigation and dispute resolution services if necessary and assist with disputes among your trust beneficiaries, between beneficiaries and the trustee. Last but not least, we assist in preparing and filing a Federal Estate Tax Return.

Providing sound legal advice will ensure a smooth and straightforward administration of your trust at every stage of the process. Let us help you get through this difficult time by offering our knowledge and expertise.

Why Work with First Class Counsel?

We take the time to learn about you and your family’s unique needs and desires.
Our skilled attorneys handle each case on a one-on-one basis, exploring the best options that suit your individual needs.
We are here to serve you as our courteous staff work hard so you don’t have to.