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Trust Administration

If someone died with a living trust, then a trust administration is needed to transfer trust property to trust beneficiaries. Kugelman Law trust administration attorneys in California can assist with all aspects of trust administration.  

Beginning Trust Administration 

The named successor trustee of a trust should get started on administering the trust within 30-60 days following the death of the trust's creator (the "trustor"). It starts with sending notice of trust administration to all the trust's beneficiaries and the decedent's legal heirs.  

This notice lets everyone know who the trustee is and how long they have to contest the trust if they choose to do so. A probate administration may also be needed in conjunction with a trust administration if the decedent left an asset out of the trust.   

Trust Administration Process 

A trust administration starts with initial notice to trust beneficiaries and the decedent's legal heirs. Once the initial notice is sent, then the trustee may start collecting trust assets and readying them for distribution to the trust's beneficiaries.   

During that time, the trustee will be required to maintain a detailed accounting of all expenditures and actions taken as trustee. This accounting will be delivered to the trust's beneficiaries along with their proposed distribution according to the trust.   

Trust Administration Tax Consequences  

There are potential property tax considerations if real estate is not transferred in a timely manner. Also, trustees must file two different types of tax returns: an individual return for the decedent and a return for the trust. These need to be filed to avoid scrutiny from the IRS and California Franchise Tax Board (FTB). 

That is why it’s advantageous to hire Kugelman Law tax and estate planning attorneys in California to help ensure both the tax and estate plan aspects of trust administration are handled properly and efficiently. 
Client Reviews
Alexander helped me break down my tax situation and used his expertise to figure out the next actionable steps, make sure that all the bases were covered (that I wasn't aware even existed), and confirm that things were done correctly. If you are confused and stuck in a difficult tax situation, Alexander will guide you forward and help you confidently resolve the issue. Henry Wang
If you are having tax trouble, Alexander is the one to help you. He was very professional, personable, and easy to reach. His explanation of the entire process is helpful for easing the stress that is associated with tax trouble. We never felt intimidated or out of the loop while working with him. The process was handled to our liking and we are satisfied with the results. Even the after care has been phenomenal! Tony W.
If anyone out there is in need of stellar legal tax assistance, look no further and contact Alexander Kugelman. He helped me tremendously with my tax situation and is always there to help when needed. If I can give Alexander more stars, I would because 5 stars is not enough! Thank you for everything, Alex!!! Flo Lauzon
Alexander has been a life saver! I got dragged into some serious IRS issues with a complicated foreign assignment component, which included divorce. Alexander has been working with me to resolve directly with the IRS. Alexander is detail oriented, responsive and I trust him to guide me. I will be using Alexander for all tax related matters from now on! He is stuck with me forever. Eve T.
Alexander helped me understand the IRS audit process and prepared my response. There were certain records that I had lost, but he suggested alternatives that the IRS accepted. Even better, he showed up at the audit for me and I never actually had to talk with the IRS. I didn't have to pay any penalties. I'd definitely recommend hiring Alexander to deal with an IRS issue. L.R.