What does a trustee do?
In general, all trustees administering California trusts are responsible for:
- Identifying all of the assets that are owned or should be owned by the trust
- Determining the value of those assets
- Identifying the beneficiaries of the trust
- Providing certain information to those beneficiaries
- Accounting for how trust resources are managed
- Making payments to beneficiaries according to the terms of the trust
Should I serve as a trustee?
Serving as a trustee is difficult and time-consuming. It also carries risks to the trustee: a trustee can be sued for failure to carry out the instructions of the trust (which are not always easy to understand).
If you have been named as a trustee, you should consult with an experienced attorney right away. We can help you understand your responsibilities and to efficiently administer the trust by working closely with you and your advisors, including your financial advisor, accountant, and other trusted advisors.
Mika Domingo is an experienced trust and estates trial lawyer with a passion for helping others. She is your trusted advisor and will help you execute the responsibilities of a trustee so that you minimize your risk and perform your duty.
Mika was selected as a Super Lawyer Rising Star, an honor bestowed upon the top 2.5% of attorneys. She was named a Super Lawyer Rising Star in years 2018-2021. She also holds an Avvo “Superb” rating (a perfect 10 out of 10). You won’t find another law firm capable of providing the combination of personalized service and trust administration expertise at the rates offered by M.S. Domingo Law Group, P.C. Contact us to discuss your situation.