Los Angeles Trust Administration Attorney
Do You Need Guidance with Trust Administration in Los Angeles?
A person establishes a trust when he gives assets to person called a "trustee" to manage for the benefit of another called the "beneficiary." The law mandates certain duties and actions of the trustee that you need to understand. As a trustee you have a fiduciary duty to act in the best interests of the trust. You may not profit from your position as trustee or have conflicts of interest. Trust accounting rules require that you put trust funds in a separate bank account, keep records of income and expenditures and be able to provide an accounting when asked. You are also to follow the instructions of the trust document regarding maintenance of assets and payments to beneficiaries.
Experienced Trust Administration Lawyer Serving the Los Angeles Area
Kerendian & Associates, Inc. is a seasoned trust administration law firm serving the greater Los Angeles, California area. Schooled in the legal requirements of trust administration, we are able to answer your trustee questions and assist you with establishing trust accounting. We can also zealously defend you in court if your actions have been challenged.
We are able to assist if you are contemplating setting up a trust so that trust administration will be easy and effective. We can draft your document so as to leave no ambiguity as to your intentions and avail you of any tax advantages. We can advise you about living trusts which enable you to retain control of your funds while you are competent but, if you become incapacitated, allow your designated family member to pay your bills and care for your family.
Finally we can help beneficiaries who are unhappy about the administration of a trust. We can help you intervene in the matter and if needed require the trustee to make an accounting of this actions in court.
Contact a Los Angeles Trust Administration Attorney
for experienced legal counsel.