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Receive Guidance from a Reputable Legal Team Regarding Trust Administrations

Administering a Trust in Irvine, CA?

Proven Representation & Effective Solutions

When an individual is appointed successor trustee of a deceased person's estate, they become responsible for administering the decedent's trust. This task can be complicated and overwhelming, which is why if you have been appointed a successor trustee, it may be beneficial to work with a lawyer. At Peter Rasla & Associates, P.L.C., our Irvine probate attorney and knowledgeable team are well-versed and skilled in the field of probate law.

Want to ensure that your duties as a successor trustee are carried out properly? Contact our Irvine firm today to get schedule your free case evaluation.

Duties of a Successor Trustee

As a successor trustee, there are a number of obligations you must fulfill to ensure that the trust is handled properly. Attorney Rasla and his team maintain an extensive understanding of California probate law and ensure their clients are always informed about what their obligations as a successor trustee are.

Some responsibilities of a successor trustee include:

  • The trust is not to be used for personal benefit, or for anything not related to the trust.
  • You must act in the best interest of the beneficiaries. The decedent had reason to give you the duty of being a successor trustee, which means you should take your obligations seriously. Ensure all beneficiaries are always aware of your actions while administering the estate. Do not show favoritism towards any of the beneficiaries.
  • Make sure the trust's assets are preserved. Make cautious choices when you are deciding how to invest or hold the assets. If the assets decrease due to your negligence, you could be held liable and may have to repay the beneficiaries.
  • Ensure the trust's assets stay separate from your own personal funds. Assets that are mixed with your own could lead to misuse.
  • You must file the taxes for the estate on time. If the taxes are not filed on time, you will be held responsible for any penalties that ensue.
  • Keep accurate records of any decisions you make regarding the trust. If you are asked by a beneficiary or the court to give an account, you must be able to do so.

While the amount of responsibility placed on a successor trustee may seem overwhelming, as long as you stay on top of your duties and handle your tasks properly, you do not have reason to worry. By teaming up with the Irvine law firm, you can take extra care in fulfilling your responsibilities correctly.

Learn More About Administering Trusts in California

If you retain the services of Peter Rasla & Associates, P.L.C., you can be sure that you have a team representing you that truly cares about helping you obtain the best outcomes possible. Our team takes your responsibility as a successor trustee seriously and we ensure every client is provided with helpful guidance and effective counsel at every step of their legal proceeding.

Fulfill your duties as a successor trustee with confidence! Call the firm today to schedule your free case evaluation: (949) 390-9994.

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