Managing High-Equity Assets: From Bel Air to Silver Lake
Los Angeles trust administration often involves more than just a family home. We assist trustees in managing diverse portfolios including commercial real estate, brokerage accounts, entertainment residuals, and digital assets. The legal standard for a trustee is high; you are held to the "Prudent Investor Rule," meaning you must manage assets as a professional would.
As your Los Angeles trust settlement lawyer, we provide the formal Trust Accounting necessary to protect you from beneficiary disputes. In a city where property values can shift rapidly, documenting the fair market value as of the date of death is the only way to shield yourself from personal liability and ensure a smooth distribution of the estate.
Stanley Mosk Courthouse: Centralized LA Probate Division
For all residents of Los Angeles County, legal matters involving trusts and estates are centralized at the Stanley Mosk Courthouse (111 N. Hill St, Los Angeles, CA 90012). Whether you need to file a Heggstad Petition to rescue a property left out of the trust or defend against a trustee removal petition, our firm handles the complex electronic filing system and court appearances required in the downtown probate department.
Prop 19 Defense: Protecting Los Angeles Family Homes
Under California Proposition 19, property tax preservation has become a primary duty for trustees. If you are administering a trust with a home in the Wilshire Corridor or Silver Lake, you must navigate strict residency and filing deadlines. If a beneficiary does not move into the property within one year, the tax base will be reassessed to current market rates—potentially adding tens of thousands of dollars to the annual tax bill. We handle these critical filings with the LA County Assessor to preserve family wealth.
Successor Trustee Statutory Deadlines (2025)
| Requirement | Legal Deadline | Filing Authority |
|---|---|---|
| Notice to Heirs (16061.7) | 60 Days from Death | Mandatory Service |
| Medi-Cal Notice (DHCS) | 90 Days from Death | Sacramento Office |
| Notice of Death of Owner | 150 Days from Death | LA County Assessor |
| Prop 19 Exclusion Filing | 1 Year from Death | LA County Assessor |
Protecting Trustees from Personal Liability
In the litigious environment of Los Angeles, successor trustees are frequently targeted by disgruntled beneficiaries. Errors in the trust administration process—such as commingling funds or failing to provide an annual accounting—can lead to "surcharges" where you are forced to pay for damages from your own pocket. We act as your legal shield, ensuring every fiduciary step is performed and documented correctly.
Complete Los Angeles Trust Administration Services
- 16061.7 Notice Preparation - Proper service to all beneficiaries
- Step-Up in Basis Appraisals - 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
- High-Value Asset Management - Real estate, investments, IP
- Asset Distribution - Final transfer to beneficiaries
