Trust Administration

Once the Grantor (individual(s) that created a Trust) dies, then the trust agreement becomes Irrevocable, and the trust administration process begins and ultimately, trust asset distribution for the Trust beneficiaries.

Who Is a Trustee

The person entrusted with the responsibilities and management of the trust assets is called a Trustee. The Trustee holds a very important position, one of fiduciary capacity, which means the trust creator has entrusted you with safekeeping and investment management of the Trust funds. Ultimately, if you do not carry out your fiduciary duties under the law and according to the trust agreement, you may be held personally liable and sued.

That’s why it’s so crucial to hire our firm to represent you for your own protection as a trustee and proper advice on your role and duties as a trustee.

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A Trustee’s Roles & Responsibilities

In general, a trustee has a fiduciary duty to administer the trust solely in the interest of the beneficiaries and to deal with them impartially.

Additionally, the trustee cannot use any of the trust property for their own profit or any purpose not expressly listed in the trust. The trustee also cannot enter into any transaction that would create a conflict of interest between the trustee and the trust or a trust beneficiary.

Rest assured that you are not alone in your role as trustee. Our firm is experienced and knowledgeable and ready to assist you in competently accomplishing the steps involved in administering the trust agreement.

Important Steps of Trust Administration

location

Locate estate planning documents

documents

Collect other important documents such as insurance policies, real estate deeds, car titles, bank and investment account statements, and tax returns

evaluation

Determine whether there are any debts to be paid

notice

Provide Notice to beneficiaries

property

Prepare property valuations and appraisals

tax

File all the necessary tax returns and pay any taxes due

trust

Maintain the trust accounting, which the Trust beneficiaries are entitled to

title-deed

Prepare deeds and other transfer documents to beneficiaries, restructure assets for equalization of distribution, and oversee real estate transactions

management

Establish subtrusts for beneficiaries such as lifetime asset protection trusts and special needs trusts, and trustee advisement in the ongoing administration thereof

Excellent
Based on 53 reviews
L Go
L Go
2024-05-17
Great customer service. Very knowledgeable. Follow-up ++.
tim flynn
tim flynn
2024-03-15
I was looking to do a will so I googled for a business close to me in Sunnyvale. Julie Sowards popped up and had a lot of positive 5 star reviews. Made my appointment and saw her. After some discussion on what a will and living trust is and does I went home with a pamphlet and read up on it. I did the trust and would recommend any one trying to decide to go see her. Glad I did. Thanks Julie! 👍
Yangxue Gao
Yangxue Gao
2024-02-08
I had a very positive experience working with Julie. She provided excellent service and demonstrated a strong understanding of trusts and estate planning. Julie and her assistant Kelsey guided me through the process smoothly and ensured that all my questions were answered thoroughly. I appreciate their professionalism and would recommend their services to others seeking trust-related legal assistance.
Sunny Hy
Sunny Hy
2024-01-29
Working with Julie Ann was a great experience. We had her help us with our trust and tailored it to what we needed/wanted and followed up quickly and promptly, giving us peace of mind throughout the process. It was done within a reasonable time and cost. I would highly recommend her and her team if you were looking to get a trust for you and your family.
Chris Johnson
Chris Johnson
2024-01-13
Julie has helped me both personally and professionally for more than a decade. During those years Julie has shown herself as a great listener while presenting intelligent options and sound legal advice for both my family and my clients in their estate planning process. She has never disappointed. I'll continue to refer my friends, family and clients for a great experience!
Andy B
Andy B
2024-01-11
Julie helped my wife and I secure our future with a Living Trust as well as a Post-Nuptial agreement. Julie was thoughtful and thorough in gaining an understanding of our specific needs and interests; was effective at translating complex legal-ese into something we understood; and was prompt and efficient in providing the final product. Kelsey supported this process as a legal assistant and was proactively communicative; ensured we had all necessary files, forms, and ephemera necessary to successfully complete what would otherwise be a confusing process. They are an great team and are highly recommended.
Ryan Lam
Ryan Lam
2024-01-11
Julie and her team were great to work with throughout the entire estate planning process. They were very understanding of our goals and always took the time to guide us through the complex information. After sharing my experience with friends and family, I have already had people asking for an introduction to Julie and her team!
Richard Ho
Richard Ho
2023-11-25
Julie handled our estate planning needs very professionally. She has a lot of knowledge and experience and helped us understand the changes to the law that have happened since we last looked at estate planning. She is so calming and very patient to answer questions and make sure we understood everything. Her staff are super helpful and very friendly and accommodating. Highly recommended!