Trust Administration in Santa Clara

Personal Guidance for Trustees in Santa Clara, California

Trust administration requires careful attention to the governing document, California law, trust assets, and the people entitled to receive information. At Law Offices of Timothy D. Henry, I provide individualized guidance for trustees, successor trustees, and families in Santa Clara, California, who need to understand and carry out these responsibilities.

I advise trustees and successor trustees throughout the administration process and serve clients across Santa Clara County. I provide clear explanations of fiduciary obligations and the legal procedures that may affect a trust.

My related estate-planning and probate work includes:

• Wills and trusts
• Powers of attorney
• Revocable living trusts
• Trust administration

Call (408) 643-0942 to discuss your responsibilities as a trustee or successor trustee and receive guidance tailored to the trust you’re administering.

Trustee Duties During Trust Administration in Santa Clara

A fiduciary duty is the legal obligation to manage trust property in the beneficiaries’ interests and according to the governing document. A successor trustee assumes that responsibility when circumstances identified in the document require a transition of authority. Each administration decision must reflect those duties.

Core trustee responsibilities generally include:

• Separating trust property: Trust assets must remain separate from the trustee’s personal funds, with distinct checking accounts and investments maintained for the trust.
• Avoiding personal benefit: Trustees must avoid conflicts of interest and can’t use trust property for their own benefit.
• Managing assets prudently: Investment decisions must reflect the trustee’s fiduciary obligations and the directions contained in the trust.
• Maintaining administration records: Trustees must preserve detailed records, file required tax returns, and report to beneficiaries as directed by the trust document.

Good trustee records should document funds received, expenses paid, and distributions. The governing document should guide each administration decision.