At Thousand Oaks Estate Planning, we are sensitive to the needs of our clients when it comes to implementing their estate plan when an individual becomes physically disabled, mentally incapacitated or dies.
We shepherd trustees through the trust administration process to ensure they timely comply with all their legal and fiduciary responsibilities. We work closely with our client’s existing team of professional advisors including accountants, financial planners, real estate agents and insurance agents to ensure the efficient and cost-effective administration of our client’s estate.
If you do not have a team of professional advisors, we will assist you in assembling your team to enable you to make informed decisions every step of the way. We also represent beneficiaries who want to ensure their rights are protected.
We advise our clients regarding various issues arising during the administration of a trust, including:
- The duties, powers and standards of a trustee
- Trustee accounting and record-keeping
- Investing and managing trust assets
- Resignation or removal of a trustee
- Creditor’s rights against the trust or beneficiaries
- Modification, revocation or termination of a trust
- Arranging appraisals and business valuations
- Use of disclaimers and other post-death estate and income savings techniques
- Proposed distributions and allocation of assets
- Distribution to and funding of sub-trusts
- Trustee compensation and attorneys’ fees
- Income taxation of trusts
- Coordination of gift, generation-skipping transfer tax and estate tax returns
Probate and Estate Administration
When someone dies with only a will or without a will or trust, their estate still needs to go through an administration process. Generally this entails involvement and oversight by the probate court, though a small estate may potentially avoid this process. Here at Thousand Oaks Estate Planning, we can assess your probate and estate administration needs to guide you through the administration process in and out of court.