Trust Administration Attorney in Riverside, CA
When a parent or spouse in Riverside dies with a living trust, the successor trustee takes on real legal duties, even though most trusts are settled without a court case. The Soto Law Group guides Riverside trustees from the first notices to the last distribution. If a trust administered in Riverside needs a judge’s involvement, the petition goes before the Riverside County Superior Court, and for the city of Riverside the court generally handles probate matters at the Riverside Historic Courthouse on Main Street.
Learn more about our trust administration services.
A Successor Trustee's Checklist
- Find the paperwork. Collect the trust, every amendment, the pour-over will and several certified copies of the death certificate.
- Notify beneficiaries and heirs. Under Probate Code Section 16061.7, the trustee has 60 days from the date the trust became irrevocable to send notice. That notice opens a 120-day period to contest the trust, and anyone who receives it can ask for a copy of the trust terms.
- Separate the trust’s money. Apply for the trust’s own tax ID number and keep its cash in a separate account titled to the trust.
- Value what the trust owns. Get appraisals as of the date of death; for many assets, that figure becomes the beneficiaries’ new tax basis. For married couples, community property can receive a full step-up in basis when the first spouse dies.
- Settle bills and taxes. Pay the remaining bills, file the decedent’s last personal income tax returns, and file income tax returns for the trust if required.
- Report and distribute. Give beneficiaries a written accounting, then transfer each share as the trust directs.
Riverside Homes Held in Trust
The house is often the asset that takes the most thought in a Riverside trust, whether it sits in the Wood Streets, Canyon Crest or Orangecrest. While deciding whether to sell it, rent it or hand it to a beneficiary, the trustee has to keep paying property taxes, insurance, upkeep and any homeowners association dues. A Change in Ownership Statement is due to the Riverside County Assessor within 150 days after the death. Proposition 19 can also change the math. When a parent’s home goes to a child, the property is generally reassessed for tax purposes; the exception is a child who makes it their primary residence, though even that protection has a cap. We help trustees weigh these costs before choosing a path for the house.
Trust Property in More Than One County
If the trust holds a Riverside home and also a property in Orange County, such as a beach condo or a rental, each county’s assessor needs a Change in Ownership Statement for the real estate in that county. Selling, renting or insuring property in two counties takes coordination, especially when beneficiaries live in different parts of Southern California and have different ideas about what to keep. We help trustees set a plan for each property and keep every beneficiary informed along the way.
When a Riverside Trust Needs the Court
Most trust administrations never reach a courtroom, but a few situations call for one: property the trust was supposed to own that stayed in the decedent’s name, language the trustee and beneficiaries read differently, a beneficiary who objects to how things are being handled, or a step the trustee wants approved before taking it. In those cases, we can petition the court to pull an overlooked asset into the trust or to give the trustee instructions, and we prepare and present those petitions in the Riverside County Superior Court.
Frequently Asked Questions About Trust Administration in Riverside
How long does it take to settle a Riverside trust?
Trust administration often takes 12 to 18 months, though a trust holding mostly cash can wrap up sooner. Selling a house, valuing a business interest or working through a disagreement among beneficiaries can stretch it out.
My parent's Riverside house was never put into the trust. What now?
The court can be asked, by petition, to bring the house into the trust, depending on what the trust documents show. If that isn’t possible, the house may have to go through probate.
What do I owe the beneficiaries as trustee?
Clear information and regular reports. Expect to prepare an accounting at least annually, again when the trust terminates, and whenever a new trustee takes over, unless an exception applies.
Is a successor trustee entitled to compensation?
Usually. Unless the trust document provides otherwise, California law entitles a trustee to reasonable compensation.
Why Work With The Soto Law Group
We write living trusts as well as administer them, which helps us read a trust document with a good sense of what its author meant to accomplish. Trustees work directly with Attorney Romelia “DeDe” Soto, whose more than 20 years of legal experience guides each step of the administration.
Related Services in Riverside
Trust Administration in Other Locations
- Trust Administration in Newport Beach
- Trust Administration in Costa Mesa
- Trust Administration in Irvine
- 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 Riverside
Get Help With Your Duties as Trustee
If you have just become trustee of a Riverside trust, call us at (949) 945-0059 or contact us online to arrange a meeting.