Six Steps to Accepting an Appointment as Trustee
At some point during the administration of a trust, a successor trustee must step in and assume the trustee duties. Accepting the appointment is not difficult.
Articles about Trustee Duties
How to access assets outside of trust when a person passes away?
Assets outside of trust can ultimately be distributed to the beneficaries of the trust through what’s known as a Small Estate Affidavit. Probate Code Section 13100 outlines the rules for these kinds of transfers. The first requirement is that the decedent must not have left more than $150,000 of probate property outside of trust. The following are NOT considered probate property: assets held in trust, joint bank accounts, assets held in joint tenancy, California registered vehicles, life insurance, and retirement accounts with beneficiares. The second requirement is that you must wait 40 days form the date of death to transfer such assets into the trust or to distribute the to the benficiary or beneficiaries. Finally, a declaration must be signed by personal representative confirming that 40 days from death have in fact lapsed and that the probate estate does not exceed $150,000.
Ten Instructions to Give to Your Successor Trustees
Ten instructions to give to your successor trustees. You can give your future trustees specific instructions to follow during administration.
What do I have to do to manage and control trust assets during an Anaheim trust administration after I’ve found and identified the asset?
What do I have to do to manage and control trust assets during an Anaheim trust administration after I’ve found and identified the asset?
Five Tips for Finding the Assets During an Anaheim Trust Administration
Wondering how to find assets of a trust if you are the successor trustee? The following are helpful tips during an Anaheim trust administration.
Why Trustees Should Consider Including Detailed Instructions in Their Trusts
Why Trustees Should Consider Including Detailed Instructions in Their Trusts? we encourage you to sign up for our free newsletter today!