The role of Trustee of a trust is often more complicated than the role of the executor of a will. Unfortunately, when appointing a Trustee, the law expects the individual to understand the legal requirements of the trust administration, even if the Trustee has no prior experience.
The best option is to work with an experienced trust administration attorney. In the San Francisco, CA area, a top firm to consult is Von Rock Law, PC. With experience in all types of trust administration, the Trustee has the support, information, and access to the legal information required to comply with all laws for trust administration.
Fiduciary Duty
The most important role of the Trustee is to ensure any financial decisions made in the administration of the trust are in the best interests of the trust. This is often a complicated matter, particularly if it is a large trust with multiple assets to consider and manage.
Working with an experienced trust administration attorney provides a knowledgeable professional to consult before making any financial decisions. This includes investments or using any money from the trust for any type of payments.
Impartial and True to the Trust
Often a family member is appointed as a Trustee. This can create a conflict within the Trustee or within the family. It is critical for the trust to be administered in complete accordance with the Settlor’s (the individual who created the trust) wishes.
Having a trust administration attorney to provide insight and to verify all decisions made during the administration process are valid and correct is essential in these situations. This can be highly effective at eliminating legal action taken against the Trustee by unhappy beneficiaries in San Francisco, CA, who may not see the trust as “fair” to them.
