The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Prior results do not guarantee a similar outcome. The Attorneys at Law Offices of Gregory T. Annigian are licensed to practice law in the State of California.
Due to the vast amount of work involved with Trust Administration and the stringent requirements placed upon trustees, it is imperative that those with no prior trust administration experience obtain advice from a knowledgeable attorney who can guide them through the process.
In addition to providing extensive assistance to trustees, Mr. Annigian also offers legal representation to beneficiaries who have reason to believe that a trustee is failing to carry out their duties as set forth under the law.
Whether you are a trustee in need of legal counsel when handling the administration of a trust, or are the beneficiary of a trust who believes that the trustee has breached their fiduciary duties, Lawyer Greg Annigian is here to help.
If you have been designated as a trustee and are feeling overwhelmed and in need of assistance, or are a beneficiary who wants to learn if a trustee is acting improperly, contactthe Law Offices of Gregory T. Annigian. Call (909) 981-9340 to make an appointment for an in-depth personal consultation at our Claremont office. Mr. Annigian will meet with you to review the trust documents and educate you with respect to your legal obligations and rights.
Trust Administration Lawyer Gregory T. Annigianhas helped numerous trustees properly execute their duties and has worked diligently to resolve disputes between beneficiaries and trustees. Under California law, trustees are required to perform the following tasks in accordance with their duties on behalf of the beneficiaries:
Obtain Certified Copies of the Decedent’s Death Certificate
Inventory the Assets of the Trust
Obtain a Taxpayer ID from the Internal Revenue Service in the Name of the Trust
Retain the Services of an Expert to Appraise all Trust Property
Retitle Real Property Naming the Trust as Owner
Open a Bank Account under the Name of the Trust
Deposit all Incoming Monies into the Trust’s Bank Account
Keep Meticulous Records of all Trust Related Transactions
Identify the Names and Locations of all Beneficiaries
Provide Notification of Status to all Beneficiaries
Identify the Names and Contact Information of all Creditors
Provide Notification of Status to all Creditors
Remit Payment to all Creditors
Ensure that the Trust doesn’t Lose Money
Ensure that all Real Property is Sold or Transferred in a Timely Manner to Avoid Tax Penalties
Keep track of all Trust Property
Invest Trust Assets in a Prudent & Responsible Manner
Prepare and File Tax Returns on Behalf of the Trust in a Timely Manner
Give all Beneficiaries an Accurate & Detailed Trust Accounting
Distribute Assets to Beneficiaries as Set Forth under the Terms of the Trust
An extensive knowledge of Trust Law is required to properly administer a trust, and close attention to detail is crucial. In addition to following the guidelines set forth under the law, trustees must also abide by the terms of the trust with respect to the handling and distribution of assets.
An inexperienced individual who has been named as a trustee may be held personally liable for failure to act in accordance with the law, or for engaging in self-dealing, stealing assets from the trust, commingling funds, making risky or careless investments, or mismanaging assets such that the beneficiaries suffer monetary harm.
Call a Skilled Trust Administration Lawyer in Claremont for a Consultation
For knowledgeable legal counsel regarding a Trust Administration matter, contactthe Law Offices of Gregory Annigian by calling (909) 981-9340 to schedule a comprehensive consultation with one of the area’s leading Trust Administration Attorneys.
Conveniently located in Claremont, Lawyer Greg Annigian proudly represents clients who live throughout the surrounding communities. Call for the highest quality legal counsel from an attorney who strives to preserve and protect the rights of his clients.