Upon the passing of the person(s) creating the Living Trust, this now irrevocable trust document needs to undergo a mandatory trust administrative process in order to wind down the decedent’s affairs. This is accomplished by first satisfying all legal obligations, creditors, taxes, and funeral expenses, before ultimately transferring all remaining assets to the intended beneficiaries. Simply having a trust does not mean assets somehow “magically” transfer themselves to the beneficiaries. A Successor Trustee has a fiduciary duty to perform this role after the passing of the trust creator in a diligent, objective and impartial manner, which is in the best interests of the beneficiaries. Even sole beneficiaries who are also the Successor Trustee have many legal requirements that must be performed before actually inheriting assets. Our attorneys can provide you with the highest level of services and advice you need to successfully navigate through this complicated process. We can handle all aspects of the trust administrative procedure and help insulate the Successor Trustee from personal civil or financial liability, which may by imposed upon them for not following the rules in their entirety. Unfortunately, we spend a lot of our professional time trying to assist people who did not follow the rules and as a result, there were adverse tax and legal consequences which could have been avoided.