TRUST ADMINISTRATION

When a loved one passes away and leaves behind a trust, the person named as successor trustee takes on significant legal and fiduciary responsibilities. Trust administration can be complex — and mistakes can expose the trustee to personal liability. Bob Weber provides experienced guidance to help trustees navigate this process correctly.

What Is Trust Administration?

Trust administration is the process of managing and distributing a trust's assets after the trust creator (grantor) passes away or becomes incapacitated. Unlike probate, trust administration is a private process — but it still involves a series of legal, financial, and administrative steps that must be handled carefully and in accordance with Arizona law.

Trustee Responsibilities

• Notifying beneficiaries and relevant parties of the grantor's death
• Obtaining a certified copy of the death certificate
• Inventorying and valuing all trust assets
• Notifying financial institutions and retitling accounts
• Filing final income tax returns and any required trust tax returns
• Paying valid debts, expenses, and taxes from trust assets
• Distributing assets to beneficiaries according to the trust terms
• Maintaining accurate records and providing accountings to beneficiaries

Fiduciary Duty

As a trustee, you have a fiduciary duty to act in the best interests of the beneficiaries — not your own. This means making prudent investment decisions, treating all beneficiaries fairly, keeping trust assets separate from your personal assets, and avoiding conflicts of interest. Breaching this duty can result in personal liability.

How Bob Weber Can Help

Whether you've just been named as a successor trustee or you're in the middle of administering a trust and have questions, Bob Weber can provide the legal guidance you need. He helps trustees understand their obligations, avoid common pitfalls, and complete the administration process efficiently and correctly.