Trust Administration Attorney in Irvine, CA
Settling a loved one’s living trust usually doesn’t require court, but it does come with legal duties and firm deadlines. The Soto Law Group helps successor trustees in Irvine handle each step correctly, from the first notices to the final distribution, so the trust works the way your loved one intended and you are protected as trustee.
Learn more about our trust administration services.
First Steps for a Successor Trustee
- Gather the documents. Locate the trust, any amendments and the pour-over will, and order certified copies of the death certificate.
- Send the required notice. California Probate Code Section 16061.7 requires the trustee to notify beneficiaries and heirs within 60 days after the trust becomes irrevocable. The notice starts a 120-day period for anyone who wants to contest the trust.
- Set up the trust’s finances. Get a tax ID number for the trust and open a trust account for its money.
- Inventory and value the assets. Date-of-death values set the new tax basis for many assets, so accurate appraisals matter.
- Pay debts, expenses and taxes. That includes final personal income tax returns and any income tax returns for the trust.
- Account and distribute. Report to the beneficiaries and distribute the assets according to the trust’s terms.
Irvine Real Estate in a Trust
For many Irvine trusts, the home is the largest asset. A trustee may need to keep up property taxes, homeowners association dues and any Mello-Roos special taxes while deciding whether to sell, rent or distribute the property. A Change in Ownership Statement must be filed with the Orange County Assessor within 150 days of the death. Under Proposition 19, a home passed from parent to child is generally reassessed for property tax unless the child makes it their primary residence, and even then the protection is capped. We help trustees weigh those costs before they decide.
When Trust Administration Needs the Court
Most trusts are settled privately, but some situations call for a petition to the Orange County Superior Court. Examples include an asset that was meant to be in the trust but was never transferred into it, a trust term that is unclear, a beneficiary who objects to the trustee’s actions, or a trustee who needs court approval before acting. We prepare and present those petitions when they are needed.
How Long Does Trust Administration Take?
Many trusts are settled within 12 to 18 months. A simple trust with mostly cash can finish sooner. Real estate sales, business interests or disagreements among beneficiaries can take longer.
Frequently Asked Questions About Trust Administration in Irvine
Do I have to go to court to settle a trust?
Usually not. Trust administration is generally a private process. Court is only needed for disputes, unclear terms or assets that were left out of the trust.
Can I be paid for serving as trustee?
Yes. California allows a trustee to receive reasonable compensation unless the trust says otherwise. Many trusts set the terms.
Am I personally liable as trustee?
A trustee who acts carefully, keeps good records and follows the trust and California law is generally protected. A trustee who breaches those duties can be held personally responsible for losses, which is why guidance early on is worth it.
Why Work With The Soto Law Group
Our team drafts trusts as well as administers them, so we read trust documents with a clear sense of what they were meant to do. Attorney Romelia “DeDe” Soto has more than 20 years of legal experience and works with trustees personally from the first meeting to the final distribution.
Related Services in Irvine
Trust Administration in Other Locations
- Trust Administration in Newport Beach
- Trust Administration in Costa Mesa
- Trust Administration in Riverside
- Trust Administration in San Bernardino
- Trust Administration in Huntington Beach
- Trust Administration in Laguna Beach
- Trust Administration in Santa Ana
- Trust Administration in Anaheim
- Trust Administration in Orange County
Directions to Our Office From Irvine
Get Help Settling a Trust
Call our Newport Beach office at (949) 945-0059 or contact us online to talk with a trust administration attorney.