Trust Administration

          When the creator of a living trust dies, the successor trustee must step in to carry out the trust's instructions and to perform certain tax-related functions.  Mr. Primuth advises and assists trustees in carrying out their administrative functions and helps them plan for efficient, tax-sensitive trust administration.  

         Trust administration is an umbrella term that includes many different and necessary tasks:  notifying beneficiaries and heirs of the trust, inventorying and appraising trust assets, handling ancillary probate matters (spousal property petitions, "Heggstad" petitions and independent administration petitions), funding sub-trusts, making distributions, and complying with estate, gift, income and real property tax requirements. 

         The goals of trust administration are to:

               * Properly divide and distribute the estate according to the trust's terms and the deceased trustor's wishes.

               * Comply with California law on trustee's duties and trust administration, including prudent financial management.

               * Develop a plan to meet the financial needs of the long term beneficiaries.

               * Ensure compliance with tax laws while minimizing taxes payable, which includes the 'big five' taxes: estate, gift, income (capital gain), generation-skipping and real estate taxes.