Managing High-Value Assets in The Oaks & Mountain View Estates
Trust administration in Calabasas typically involves more than just residential property. We assist successor trustees in managing complex portfolios that include private equity interests, commercial holdings, and high-value personal property. Because the federal estate tax exemption (currently $13.99 million per person) is a frequent concern for Calabasas families, we provide the technical oversight needed to ensure a tax-efficient distribution that respects the settlor's legacy.
As your Calabasas trust settlement lawyer, we provide the formal Trustee Accounting required to shield you from personal liability. In an area with many sophisticated and high-profile beneficiaries, providing a transparent, attorney-verified accounting is your strongest defense against claims of mismanagement or breach of fiduciary duty.
Stanley Mosk Courthouse: Centralized Hub for 91302 Filings
While the goal of trust administration is to remain a private process, judicial instruction is sometimes necessary. If a Calabasas property was accidentally left out of the trust, we can file a Heggstad Petition (Probate Code § 850). Following the latest 2025 LA County court rules, all such probate and trust administration petitions for Calabasas residents are centralized at the Stanley Mosk Courthouse (111 N. Hill St, Los Angeles). We manage the entire downtown filing process, saving you the burden of navigating the central probate division alone.
Proposition 19 Defense for Calabasas Gated Communities
In 2025, the Proposition 19 intergenerational transfer exclusion is a critical focus for Calabasas trustees. For transfers occurring between February 2025 and 2027, the exclusion amount is capped at $1,044,586 above the original tax base. If a successor trustee fails to coordinate the child's residency requirement and the Assessor's filings within one year, a luxury estate in Calabasas Park could face a property tax reassessment jumping from $10,000 to over $40,000 annually. We handle these filings meticulously to protect your family's generational wealth.
Successor Trustee Statutory Deadlines (2025)
| Action | Legal Deadline | Authority |
|---|---|---|
| Beneficiary Notice (16061.7) | 60 Days from Death | CA Probate Code |
| Notice to Medi-Cal (DHCS) | 90 Days from Death | Section 215 |
| Notice of Death to Assessor | 150 Days from Death | LA County Assessor |
| Prop 19 Exclusion Filing | 1 Year from Death | Residency Requirement |
Protecting Yourself from Fiduciary Surcharges
Successor trustees in Calabasas are often held to the "Prudent Investor" standard. If you distribute assets too early, miss the Medi-Cal notification window, or fail to provide a final trust accounting, beneficiaries can petition the court to "surcharge" you—making you personally liable for damages. Our firm acts as your legal shield, documenting every fiduciary step of the trust administration process to protect your personal assets.
Complete Calabasas Trust Administration Services
- 16061.7 Notice Preparation - Proper service to all beneficiaries
- Luxury Asset Appraisals - Vehicles, art, jewelry, collections
- Step-Up in Basis Documentation - Date of death valuations
- Stanley Mosk Court Filings - Heggstad, accountings, disputes
- Prop 19 Defense - LA County Assessor coordination
- Trust Tax Returns - Form 1041 and final 1040
- Formal Accountings - Protect against surcharge claims
- Asset Distribution - Final transfer to beneficiaries
