The Basics of Trust Administration in California


Trust attorneys will agree that a trust is a valuable estate planning tool.  Trusts are useful in minimizing estate taxes and in avoiding costly probate.  There are actually many benefits.  But, when it comes to trust administration, it is equally important to understand what is involved and to select the right person or entity to serve as your trustee. The legal definition of a trust Trusts are basically fiduciary agreements between a trustee and the grantor, who is the person making the trust.  Fiduciary simply means the agreement is based on the trust and confidence.  The trust document gives the trustee the authority to manage the trust assets and distribute them to the named beneficiaries pursuant to the terms of the trust agreement.  A trust may be used in place of a will, or may be used in conjunction with a will where it only applies to certain property. Common goals of a trust As people accumulate their wealth, grow their retirement accounts, make their investments and
http://www.norcalplanners.com/blog/estate-planning/basics-trust-administration-california/

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