| Alan R. Horvath, Attorney at Law |
| Frequently Asked Trust Questions |
| Phone: 209 754-5291 Fax: 209 754-5293 |
| ahorvathlaw@sbcglobal.net |
P.O. Box 81
596 Mountain Ranch Rd.
San Andreas, CA 95249
596 Mountain Ranch Rd.
San Andreas, CA 95249
What is Meant by Trust Administration?
A trust consists of assets held by a trustee to be used for purposes as defined in the trust document.
Administration of the trust consists at all times of insuring that the trust assets are productive for the benefit of the
trust. Depending on the assets involved, this may include directing the investments in a stock portfolio, or
overseeing the rental of income properties.
"Administration" is also the term used under California law to describe the probate process. Even though a trust
will generally avoid probate, the "administration" of the estate, meaning the payment of debts and the distribution
of intended gifts will still have to be done under a trust, and is referred to as administration.
Finally, when a single trust is created by a married couple, there is often the requirement to split the trust assets at
the first death. When required by the trust document, it is extremely important that this be done accurately and
with careful consideration as to the best way to allocate assets between trusts to insure the maximum long term
benefits to the family. This to falls under the heading of administration.
For anything but the simplest of trusts, it is advisable to seek legal counsel in performing a trust administration.
.
A trust consists of assets held by a trustee to be used for purposes as defined in the trust document.
Administration of the trust consists at all times of insuring that the trust assets are productive for the benefit of the
trust. Depending on the assets involved, this may include directing the investments in a stock portfolio, or
overseeing the rental of income properties.
"Administration" is also the term used under California law to describe the probate process. Even though a trust
will generally avoid probate, the "administration" of the estate, meaning the payment of debts and the distribution
of intended gifts will still have to be done under a trust, and is referred to as administration.
Finally, when a single trust is created by a married couple, there is often the requirement to split the trust assets at
the first death. When required by the trust document, it is extremely important that this be done accurately and
with careful consideration as to the best way to allocate assets between trusts to insure the maximum long term
benefits to the family. This to falls under the heading of administration.
For anything but the simplest of trusts, it is advisable to seek legal counsel in performing a trust administration.
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