Trust Administration

Increasingly, California families are opting to establish a revocable living trust to provide for the disposition of their assets upon the death or incapacity of the settlors (the creators) of the Trust, which can be an effective tool in avoiding the delays and costs associated with a formal probate proceeding, potentially minimizing estate taxes, and generally providing for the orderly disposition and management of finances and property without requiring judicial intervention. While the revocable living trust is a very effective in doing the foregoing, the trust must still be "administered" upon the death or incapacity of the settlor(s). At McDowell Odom LLP, we are committed to guiding our clients in Santa Clarita and throughout California through the process of administering a trust estate upon the death or incapacity of a loved one, including counseling successor trustees on his or her fiduciary duties as well as other obligations as trustee, aiding the trustee in identifying, collecting and valuing assets, paying legitimate debts of the estate, and reporting financials to trust beneficiaries.