Trust Administration

Trust administration must be completed after the death of the person who established the trust. Depending on the particular circumstances and type of trust, trust administration is typically done without the supervision of the probate court.

Indeed, many people create a trust for just this reason as the costs to administer a trust are generally lower than the costs to administer a probate estate, it is often faster, and there is more privacy. The goal of trust administration is to transfer property from the decedent to the beneficiaries, per the trust’s guidelines.

As an executor takes inventory and distributes assets through the probate process, a trustee has a similar role in managing trust property and distributing it according to the terms of the trust.

Every trust is different, thus this could mean that personal or real property is distributed outright (each child walks away with a check for five thousand dollars) or it could mean that the assets are retained in one or more trusts for the benefit of the beneficiaries, such as would be the case with a spendthrift trust (for adults who have difficulty managing money), special needs trust (for a disable individual), or a trust for a minor child. The instructions on how to manage and distribute the property are explained within the trust itself.