Trust administration is the legal process of settling someone’s trust after they die.
What’s Involved
- Figuring out what they owned (bank accounts, investments, real estate, business interests)
- Figuring out what they owed (mortgages, credit cards, taxes)
- Filing tax returns (final income tax, estate tax, trust income tax)
- Making distributions to beneficiaries according to the trust document
- Keeping detailed records of every transaction
This typically takes 6 to 12 months and requires attention to detail, understanding of California law, and careful communication with beneficiaries.