California

Trust Administration

When you create a Revocable Living Trust, you’re hoping for one thing: The smooth, streamlined distribution of assets after you pass away.  But with a metaphorical maze of Estate taxes and legal documents, the actual act of doling out inheritances – Trust Administration – can be much more challenging than most people ever expect.

To put it simply, with Trust Administration, there’s good news and bad news.

The good news is that by sidestepping Probate, distributing assets can certainly be easier and quicker.

The bad news? If the person in charge of Trust Administration is inexperienced, busy or incompetent, distributing inheritances will take longer and cost more.

At Vaksman Khalfin, we can take the unknowns and angst out of Trust Administration. With a wealth of experience managing Estates, our team can confidently offer the following services:

• Advice regarding the terms of the decedent’s will and trust
• Advice regarding the trustee’s duties to the beneficiaries and the applicable laws related to ongoing investments and distributions
• Preparation and filing of all necessary court documents
• Representation of clients in all tax court proceedings
• Postmortem planning, including effective use of tax elections and disclaimers
• Income tax planning for the estate
• Advice with respect to any challenges to the decedent’s will or trust
• Advice with respect to any disputes among estate beneficiaries or between beneficiaries and the executor
• Advice regarding the impact of international tax treaties on estate property
• Review of all federal and estate tax returns

The ability to distribute inheritances as efficiently as possible cannot be underestimated. Our legal team can deftly manage your Trust Administration, and help maintain the harmony and goodwill of among your family members.