• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Who We Are
    • About Our Firm
    • Attorney and Staff Profiles
    • Scott P. Schomer Certified As Specialist In Estate Planning, Trust And Probate Law
    • Trust and Probate Litigation: Verdicts and Settlements
  • Services
    • Estate Planning
    • Probate
    • Trust Administration
    • Trust, Probate and Estate Litigation
    • Family-Owned Businesses
    • IRA & Retirement Planning
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Young Families
  • Probate
    • Is Probate Always Necessary In California?
    • Probate & Estate Planning Savings Calculator
    • Probate Administration
    • Probate Code 850 Petitions
    • Probate Disputes
    • Probate In California
    • Probate Laws
    • Probate Litigation
    • Why Hire A Probate Attorney
  • Elder Law
    • Conservatorship
    • Coping with Alzheimer’s
    • Estate Planning
  • Resources
    • Elder Law
      • Elder Law & Medi-Cal Definitions
      • Elder Law Reports
    • Estate Planning
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Special Needs Planning Can Protect Benefits
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
      • Webinars
    • Frequently Asked Questions
      • Advance Health Care Directives
      • Asset Protection
      • California Adult Conservatorship
      • Estate Planning
      • Estate Planning & Remarriage
      • Frequently Asked Questions For Families Without An Estate Plan
      • In-Home Elder Care
      • IRA Inheritance Planning
      • IRA & SECURE Act
      • Irrevocable Trust
      • Last Will and Testament
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Living Trust
      • Probate
      • Special Needs Planning
      • Trusts
      • Trust Administration
      • Wills
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Published Book
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Communities We Serve
    • Los Angeles County
      • Bellflower
      • Cerritos
      • El Segundo
        • El Segundo Probate Resources
      • Hawthorne
      • Inglewood
      • Long Beach
        • Long Beach Elder Resources
        • Long Beach Probate Resources
      • Manhattan Beach
      • Playa del Rey
      • Santa Monica
      • Westchester
        • Westchester Elder Resources
        • Westchester Probate Resources
    • Orange County
      • Anaheim
      • Buena Park
      • Cypress
      • Fountain Valley
      • Garden Grove
      • Huntington Beach
        • Huntington Beach Elder Resources
        • Huntington Beach Probate Resources
      • Los Alamitos
        • Los Alamitos Probate Resources
      • Rossmoor
      • Stanton
      • Seal Beach
      • Westminster
  • Contact Us
  • BLOG
  • Videos

Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

Connect With Us Today (310) 337-7696

Attend a Free Event
Home » Services » Trust Administration

Trust Administration

The creation of a trust can provide asset protection, can protect beneficiaries, and can provide continued control over assets in case of death or incapacity. There are different types of trusts, however, and there are legal requirements involved in their creation. Those who want to use a trust as a part of their estate plan, or those who have concerns about how assets will be managed in case of incapacity or death, should consult with a legal professional for assistance.

Schomer Law is a Los Angeles law firm with extensive experience with trust creation and trust administration. We provide guidance and advice on whether a trust is right for you and we assist with the formal process of creating the right type of trust to meet your needs. We also provide assistance in administering a trust after the trust creator has passed away. Trust administration can involve the process of managing and transferring trust assets, which can be a complex process for trustees to handle after a death.

To learn more about trust creation and trust administration, contact our Los Angeles trust lawyers today. We can provide a personalized consultation and can offer answers to questions you may have including:

  • What are trusts and why are they created?
  • What is the trust administration process in California?
  • How can a Los Angeles trust administration lawyer help you?

What are Trusts and Why Are They Created?

Trusts allow you to establish a legal separation between ownership of property and use or possession of property. The trust is a separate legal entity that you can transfer assets into so the trust becomes the owner, instead of you or your beneficiaries becoming the owner. A trustee is named to manage the trust assets for the beneficiaries. In many situations, you can serve as the trustee for your own trust; however, you will need to name a backup beneficiary to take over in case of death or incapacitation.

There are different kinds of trusts, including revocable and irrevocable trusts. Depending upon the type of trust you create, it may serve many different purposes. Some of the different reasons that trusts are created include:

  • To shield assets from counting when determining Medi-Cal eligibility. If the trust owns the assets and you are not the owner, the assets may not be counted when determining if you are needy enough to qualify for Medi-Cal nursing home payments.
  • To protect beneficiaries. If you wish to leave money to someone with special needs, you could put government benefits at risk. Beneficiaries may also be prone to irresponsible spending and a large gift of money could be a burden. With the creation of a trust, you can ensure that you maintain ongoing control over the money even after your death and you can ensure the gift of trust assets causes no loss or financial harm to beneficiaries.
  • To ensure assets are managed correctly. You can make sure that even if you become incapacitated or pass away, your money and property are invested wisely and kept secure. The trustee you name who will manage the assets has a fiduciary duty to act in the best interests of the beneficiaries at all times.
  • To shield assets from creditors, bankruptcy, or divorce. When the trust owns the assets, the beneficiaries aren’t the owners- so the money can’t be taken if beneficiaries go bankrupt or get divorced.
  • To help avoid probate and reduce or eliminate estate taxes. Assets that are kept in trust do not have to transfer through the probate process.

These are just some of the potential reasons why creating a trust may be a smart decision. A Los Angeles trusts lawyer at Schomer Law can review your situation, help you to determine if a trust makes sense, and assist with the technicalities of creating and funding a trust.

What is the Trust Administration Process in California?

When a trust has been created, the death of the creator can trigger the trust administration process. This process can vary depending upon the type of trust and the instructions provided when the trust was created. In general, however, trust administration involves carrying out the wishes of the deceased, managing trust property, and facilitating transfers of trust property to new rightful owners after a death.

Successfully navigating the trust administration process is key to ensuring that the wishes of the trust creator are respected and to ensuring the trustee fulfills a fiduciary duty. A Los Angeles trust administration lawyer can represent trustees or beneficiaries to ensure the trust administration process goes smoothly.

Getting Help from a Los Angeles Trusts Lawyer

Schomer Law provides invaluable assistance with all of your legal issues related to trusts. Contact our Los Angeles trusts lawyers today to learn about the personalized legal services we can offer to you.

Primary Sidebar

Schomer Law Group, Los Angeles Estate Planning, Probate, and Elder Law Attorneys

Schomer Law Group

FREE Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Testimonials

Client Review
July 29, 2020
    

We need to update our Living Trust and attended Schomer Law Group’s seminar. Afterwards we made an appointment and were impressed by the attention Scott Schomer and Liran Aliav gave to our case answering all questions and making suggestions how to minimize the estate tax. All the office staff is very friendly and we highly recommend Schomer Law Group.

Frank & Jutta R
Client Review
July 29, 2020
    

Mr. Schomer does an amazing job at explaining all the intricacies of establishing a trust. He and his team help you every step of the way so you always know what to expect and what you are preparing for. Best education you can get and the best gift you can give your family.

Paula M.
Client Review
July 29, 2020
    

We put off getting a trust for years. After attending a seminar with Scott Schomer we realized that the time had come to get a trust. We were given very good reasons for why we should get a trust. No pressure, just the plain facts. We are very relieved and happy to finally get our trust. Scott and Cesar were very knowledgeable, helpful and listened to our ideas of what we had to say. Any questions that we have now and in the future they are available to assist us to solve them. I recommend the Schomer Law Group and I wish we knew about them years ago.

Phillip G.
Client Review
July 29, 2020
    

When you’re presented with an invitation to attend in a mailer, you may have reservations, this was a truly gift!! My wife and I were educated and guided through the process of creating a family trust.
Both of our parents had attorney’s that “worked” with wills/trusts, but came up short. Fortunately, the Schomer Law Group was there! This is a group of attorney’s that only specialize in estate planning, law, and financial advice, so you know you’re getting expert and personalized advice. This is the best money we’ve ever spent!! Thank you!

Bob L.
Client Review
July 29, 2020
    

We knew we had to update our 10 year old ( 20 page ) trust. After several detailed meetings, Liran and Cesar produced a large ( 300 pages + ) highly detailed trust document that we have used to make sure our family estate is well managed and clearly understood.
They were all very helpful in answering myriad questions and explaining all the various options…

We would strongly recommend the Schomer Law Group to anyone with an estate of even modest means, to assure proper planning…

Bob S.
Client Review
July 29, 2020
    

We had contemplated updating our will and starting a trust for a number of years. After attending a talk by Scott Schomer we realized we were long overdue and the potential downside of not having our affairs in order was significant. Scott and his excellent team made the process simple and seamless. They were great listeners, addressed all our concerns and even pulled and processed all the paperwork from our financial institutions. If you are looking for assistance with estate planning, wills and trusts, we highly recommend Schomer Law Group.

Robert F.
Client Review
July 29, 2020
    

Very competent & informative – friendly atmosphere – ready to answer the most mundane questions – relaxed.

Joan S.
Client Review
July 29, 2020
    

Mr. Schomer was excellent in getting our family trust and estate affairs in order. My husband and I had put off doing this and Scott really made the process easy! He is very passionate in making sure his clients get all that they need and we really appreciated it. I would highly recommend him and look forward to the many years he will be available to assist our family.

Kim

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

Office Address

El Segundo
2155 Campus Drive
Suite 250,
El Segundo, CA 90245
Phone: (310) 337-7696
Fax: 310-337-1277

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 6:00 PM
Tuesday9:00 AM - 6:00 PM
Wednesday9:00 AM - 6:00 PM
Thursday9:00 AM - 6:00 PM
Friday9:00 AM - 6:00 PM

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Schomer Law Group

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

footer-logo
© 2023 American Academy of Estate Planning Attorneys, Inc.

Schomer Law Group

Attorney Advertisement.

© 2023 American Academy of Estate Planning Attorneys, Inc.