During the administration of a special needs trust, the trustee has many responsibilities. In order to make the administration process easier on the trustee, it is important to obtain HIPAA releases before making payment to these health care providers.
You have been named executor and want to serve as the executor of his estate and help settle his debts and distribute his assets according to the terms of his will, trusts, and other applicable estate documents. You should call an attorney to help you.
Trust funding is important because many of the benefits that are provided by using a trust are not accomplished unless the assets are actually moved into the trust before the creator passes away. This often means the trustee is responsible for funding the sub-trusts.
Getting a receipt for a disbursement is important to protect the personal representative or trustee proving that what was supposed to be was fulfilled. Here is more information about getting a receipt for a disbursement.
An attorney can help you to administer a trust correctly and save you a lot of time and energy making sure you follow California law. Contact us today if you have questions about serving as trustee.
As you administer the estate of your loved one, you must obtain a tax ID number. Executors cannot simply use the social security number of the decedent in order to file taxes or open accounts on behalf of the estate.
