If you are unsure about how to proceed as the Successor Trustee, you will benefit from the help of an experienced San Francisco trust administration attorney. The first step is to carefully read the trust to determine your duties under the trust instrument. This can be particularly difficult when the trust is written in confusing and almost impossible to understand legalese, which is why trust administrative services are extremely helpful. In addition to your obligations under the trust, the Successor Trustee is required to comply with the provisions of the California Probate Code as it relates to notice requirements and the Successor Trustee’s duties and obligations under the Probate Code. There are tax considerations as well. For assistance distributing trust assets and to ensure compliance with the provisions of the California Probate Code, most Successor Trustees rely on the trust administration services of an experienced trust attorney. Under the Probate Code, the Successor Trustee is entitled to “reasonable compensation under the circumstances” and the trustee has power to hire persons including attorneys who are paid from the trust estate.
If you are the Successor Trust, please call our San Francisco trust administration office at (650) 488-0431 for a free consultation.