Trust Distributions Lawyer Santa Clarita, CA
Of all of the activities of a trust, the distribution of the assets or property held in the trust can be the most important matter to beneficiaries. Such trust distributions are not only governed by the specific terms of the trust, but they can also be impacted by California law and whether any challenges or contests to the trust have been raised.
Because overseeing trust distributions can be as complex as other matters of trust administration, it’s important that trustees retain the help of an experienced lawyer who can help them navigate the process and appropriately administer a trust.
At the Law Offices of Darrell C. Harriman, our North Hills trust administration attorney has been providing trustees with the highest quality legal services since 1980. In addition to helping trustees distribute the assets of a trust, our experienced estate planning lawyer can also assist trustees in handling their other trust administration duties, including terminating a trust when it’s time to do so.
Preliminary Trust Distributions in Los Angeles, CA
Generally, the assets or property of a trust will be distributed to the beneficiaries according to the specific terms laid in the trust documents. However, when contests to the validity of a trust are raised, these challenges typically have to be resolved before trust distributions can be made.
In the event that these challenges only pertain to certain terms of the trust and that other trust distributions may be monetary, it may be possible for preliminary trust distributions to be made to specific beneficiaries – as long as these distributions will not impact the rights of other beneficiaries.
With such preliminary trust distributions, however, there are some specific procedures and time lines that must be met, and having an experienced attorney on your side – regardless of whether you are a trustee or a beneficiary – can be critical to the success of preliminary trust distributions.
Trust Distributions Upon Termination of the Trust in Northridge, California
Trusts can last for years or decades, with the terms of their termination being specifically laid out in the trust documents. For instance, while some trusts may come to an end when a certain person passes away, others may terminate upon a specific individual reaching a certain age (like 18 or 25 years old).
When it’s time to end a trust and make the final trust distributions, here are some of the things that trustees should be aware of:
- There may be a specific order in which the trust distributions must be made. In other words, it may be necessary to make certain trust distributions before others.
- Although a court proceeding may not be required for trust distributions, it can be a good idea to involve the court on some level, particularly as a way to protect trustees from possible allegations of breach of fiduciary duties in the future.
- Once all trust distributions have been made and the final administration activities have been completed, the trustee can be formally relieved of his duties by the court.
Mission Hills Trust Administration Attorney at the Law Offices of Darrell C. Harriman
Do you need help distributing the assets and property of a trust? If so, the experienced San Fernando Valley trust administration attorney at the Law Offices of Darrell C. Harriman is here to help you. For more than 38 years, our San Fernando Valley trust administration attorney has been dedicated to providing his clients with:
- Personalized, highly responsive service.
- Clear answers and honest advice.
- Superior representation for all of their trust administration needs.
Contact a North Hills Trust Distributions Attorney Today
Let’s talk about your trust administration needs today. You can contact our firm by calling (818) 462-8355 or by filling out the contact form on this page.
From our offices based in North Hills, we provide the highest-quality legal services to our clients throughout the San Fernando Valley, Simi Valley, North Hills and the greater Los Angeles area.