Managing a trust is as important as establishing one. Understanding how to secure the operation and financial stability of a trust requires strategic tax planning, legal checks and balances, and attention to indemnification issues. At the Law Offices of Robert ML Baker III, our trust administration lawyer works closely with banks, financial planners, and non-profit organizations to ensure your trust is managed appropriately. Instituting protective strategies involving who can sign for checks, file tax returns, or monitor a trust’s activity, we anticipate potential vulnerabilities to ensure your plans are well protected and maintained.

To learn more about how we can help you administer your trust, contact California trust administration attorney Robert ML Baker III today. Our California office is familiar with a variety of trusts including revocable trusts, irrevocable trusts, special needs trusts, charitable remainder trusts, and insurance trusts. We represent clients throughout Los Angeles County, including the cities of Beverly Hills, Culver City, Malibu, Encino, Marina Del Rey, West Los Angeles (West LA), Santa Monica, Venice, Los Angeles, Sherman Oaks and the South Bay.

Trusts serve many purposes. However, for many, a trust is used to minimize the expense, time, and strain of the probate process. While a properly created and funded trust may enable a family to avoid probate, it is still necessary to carry out the terms of the trust through trust administration. At the Law Offices of Robert ML Baker III, we help families, individuals, and trustees through all aspects of trust administration.

Trust Administration
Trust administration involves management of assets in a trust as well as carrying out the terms of the trust. At the Law Offices of Robert ML Baker III, we help newly appointed trustees understand their duties and guide them through the intricacies of trust administration. The trust administration process involves:

• Notice to beneficiaries: Living trusts are established during the creator's lifetime. Assets are kept in a living trust to avoid the probate process when the individual dies. When a trust becomes irrevocable upon the creator’s death, the trustee must give the creator’s heirs and all trust beneficiaries certain statutorily required notices. We counsel newly appointed trustees on the statutory notice requirements and deadlines and prepare all notices to ensure that the trustee properly complies with the law.
• Assessment of trust inventory: Upon the creator's death, we help the trustee identify and collect all assets within the trust. When necessary, we obtain property valuations and appraisals to determine an accurate value for each asset.
• Creating, funding and administering sub-trusts. Upon the creator’s death, it may be necessary to split the trust into sub-trusts, such as a bypass or credit shelter trust (often called an “AB Trust”). The trustee’s failure to properly and timely create and fund such sub-trusts can result in significant estate taxes consequences. We help the trustee establish the sub-trusts, allocate and distribute assets to each sub-trust, and ensure proper administration of the trusts.
• Trust accounting: After paying the decedent's remaining debts, establishing sub-trusts, and filing relevant state and federal estate taxes, we assist trustees to prepare a trust accounting and provide copies of the accounting to appropriate individuals. We also ensure that the trustee complies with the statutory annual accounting requirements.
• Continued asset/trust management: A trustees' duties will continue long after the initial trust administration. In addition to facilitating regular accountings and the preparation of fiduciary tax returns, we assist trustees in the management of trust assets. We advise trustees on permissible investment strategies that enable trust assets to grow while also providing the beneficiary with regular income or benefits.

At the Law Offices of Robert ML Baker III, we work hard to simplify the trust and estate administration process for our clients. We have comprehensive knowledge of California laws and of the trust administration procedures. We educate our clients so that they feel confident in the process and our ability to guide them.

When Mismanagement Occurs
When trustees mismanage a trust’s funds or violate the purposes for which it was created, litigation may be necessary. Prepared with investigators, forensic accountants, and other experts as needed, Mr. Baker uncovers malfeasance and negligent oversight on the part of trustees and administrators. We’re prepared to conduct an audit and subpoena records to expose negligence or criminal activity and recover damages for our client.

Contact Robert ML Baker III Today
To learn more about our trust administration services, or to schedule a consultation with Certified Trust Law Specialist Robert ML Baker III, contact our Santa Monica, California trust administration law office today.

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The Santa Monica, California Law Offices of Robert ML Baker III represents clients throughout Los Angeles County, including the cities of West Hollywood, Westwood, Beverly Hills, Culver City, Malibu, Encino, Marina Del Rey, West Los Angeles (West LA), Santa Monica, Venice, Los Angeles, Sherman Oaks and the South Bay.