The West Los Angeles Law Office of Christopher R. Twining represents decedent's personal representatives ( executors, administrators and trustees) in the administration of estates.

We know that it can be difficult enough just coming to terms with the loss of a loved one, therefore, we strive to make the process as convenient and quick as possible.

• account for all the property the settlor owned at his/her death
• pay the settlor's debts
• pay the settlor's income and estate taxes
• distribute all the remaining property to the settlor's beneficiaries ( as directed in the declaration of trust).

More Specifically a successor trustee's duties include the following:

1) Providing Notice to Beneficiaries: if a trust become irrevocable in whole or in part upon the settlor’s death, the settlor’s heirs at law and all trust beneficiaries must be sent a notice regarding the trust and given an opportunity to request copies of the trust document

(2) Conducting an Accounting: trust beneficiaries have a right to a proper accounting of the trust, although such an accounting is generally not supervised by the probate court

(3) Conducting an Inventory & Appraisal: a successor trustee must prepare an inventory of all trust assets and obtain an appraisal of trust assets that do not have a readily ascertainable value. Assets such as real property should be appraised immediately from the date of death

(4) Creating, Funding & Administering Any Sub-Trusts: some trusts must be split into certain sub-trusts upon a settlor’s death. For example, trusts for married couples often provide for a “bypass trust”  which doubles the couples’ estate tax exemption by preserving the initial exemption of the first deceased spouse. Failure to properly create and administer such a trust can cut the couples’ estate tax exemption in half, potentially costing the family hundreds of thousands of dollars.

(5) Paying the Settlor's Income Taxes: the successor trustee must file the personal income tax returns for the settlor.

(6) Paying Fiduciary Taxes: if the trust or a portion of the trust becomes irrevocable, then the successor trustee must file fiduciary tax returns

(7) Paying Estate Taxes: A successor trustee must file an estate tax return if the settlor's assets exceed a gross value of a certain amount, called the applicable exclusion amount. This value is based on all assets, whether in the living trust or not. The value is based on one-half of the couple's community property and all of the deceased's separate property, if any. If this total, before deducting any expenses or costs, exceeds the applicable exclusion amount, a federal estate tax return must be filed within nine months of the date of death. If necessary, an extension can be obtained for up to six months to file the return. Additionally, if the settlor already used a portion or all of their gift tax exclusion then the applicable exclusion amount will be reduced by that amount.