When someone dies with assets in a trust, the trust must be administered according to the rules laid out in the trust document. The successor trustee is typically the person responsible for administering the trust after the death of the trust creator. Regardless of the specifics of the trust, there are generally four categories of tasks to be performed by the successor trustee:

1. Provide legally required notices and filings
2. Collect, or marshall, the assets
3. Pay outstanding valid debts and taxes
4. Distribute the assets to the named individuals according to the terms of the trust

Although having a fully funded trust does avoid the formalities and expense of probate, there are still some formalities that must be followed. Hiring an attorney to guide you through this process can provide peace of mind knowing you are performing your fiduciary duty as intended. Trust administration pricing is charged at the attorney’s current hourly rate of $400, with a 4 hour minimum. 

If I prepared the trust to be administered, I offer a free consultation to the successor trustee to discuss next steps and determine whether you need attorney assistance.