Explore the essentials of trust administration after death with Attorney Andrew Bethel from Bethel Law. Dive deep into the complexities of managing a trust, from initial notifications to final distributions. Understand the critical steps of securing assets, obtaining an EIN, and the unique challenges of dealing with beneficiaries outside the courtroom. Learn about the significance of providing timely notices under California Probate Code Section 16061.7, marshaling assets, and the intricacies of tax reporting for trusts. This comprehensive guide illuminates the path for successor trustees, ensuring a smooth transition of assets while maintaining privacy and legality. Perfect for trustees, beneficiaries, and legal professionals, this video offers valuable insights into the often-overlooked aspects of trust administration.
00:00 - Introduction & Update from 2020
00:29 - What You Need to Know First - Setting the Stage
02:24 - The First Duty - Notice to Heirs and Beneficiaries
05:24 - Ascertaining and Securing Assets
06:51 - Acquiring an EIN
07:56 - The Big Middle - Marshaling the Assets
09:31 - Challenge Period Expiration
10:08 - Duty to Account and for an Accounting
13:58 - Distributions, Taxes, and the Reserve
15:21 - Only the Tip of the Iceberg
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Disclaimer
Viewing this video does not create the expectation of an Attorney-client relationship. The information from this video is for general information purposes only. Nothing should be taken as legal advice for any individual case or situation.
15 авг 2024
