When someone passes away, Clower Law can help with trust administration. It could be that you have lost a spouse and left you as sole trustee or that you have lost both of your parents and you are now successor trustee of their estate.
Clower Law will assist successor trustees in the administration of living trusts after a death. We can help you determine the steps and actions that you are required to take in order to satisfy your fiduciary duty as a trustee, including notices to beneficiaries and any necessary deedwork to transfer any real property. If the trust provides for the distribution of assets to beneficiaries, we will walk you through the steps required to render accountings to the beneficiaries, if necessary, and gather and distribute assets as quickly and efficiently. If possible and where desired by the trustees, we will step aside and allow the trustee to handle administration to help the estate cut down on costs.
Additionally, when someone has a special needs trust, it could be the world’s best drafted special needs trust, but the trust only works well if it is administered properly. A trustee of a special needs trust will have many questions when administering a special needs trust. It is crucial that the trustee spends the assets of the special needs trust correctly, or else the person with special needs will be penalized by Social Security and/or Medi-Cal. A mistake in administration can lead to a loss of health benefits or result in financial penalties in the future. Having an attorney to walk you through the process of special needs trust administration is important so that the beneficiary retains benefits and still has resources in the trust. Common trustee questions involve the following:
* Can I pay the beneficiary’s rent?
* How can I use the assets in the special needs trust?
* Should I just keep all of the money in the special needs trust?
* Can I buy ___________ for the beneficiary? (Insert an item here: IPad, computer, medication, insurance, clothes, furniture, travel expenses for vacation)
Clower Law stays up to date with changes in the POMS (the governing laws of Social Security) and prides itself on providing accurate information so that a trustee can administer the special needs trust properly.
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