When a person dies with a trust, the formal probate process can oftentimes be avoided but the trust document and Oregon law still have requirements and steps that the successor trustee of the trust must follow. These requirements oftentimes include sending proper notices to the beneficiaries, dealing with potential creditors, and preparing an accounting of all trust activities during the administration process.
Trust administration can become more complicated depending on the nature of the assets held by the trust. A trustee administering a trust may have to sell real estate or wind up a business. The trustee may also have to provide an accounting of the trust assets to multiple beneficiaries. A trust attorney can help a trustee work step-by-step through the process to protect the trustee from potential liability and ensure the trust in concluded in a timely and effective manner.
Please contact us to discuss trust administration whether you just have a few questions or need someone to represent you through the process.
