I'm the Trustee Now — What Happens Next?
From Passing It On: Estate Planning for Families by Michael Pevney
March 25, 2026 · 12 min
About this episode
This episode discusses the responsibilities of a successor trustee after the creators of a living trust pass away and the steps involved in trust administration.
What happens when the people who created a living trust pass away and I am now the one in charge as trustee? In this episode, I walk through what a successor trustee actually does after death, what trust administration looks like, and why a properly funded living trust can help a family avoid probate in California. I explain why trust administration does not happen automatically, even when there is a trust in place. I also cover the practical steps a trustee may need to take, including locating the trust documents, identifying assets, protecting property, getting death certificates, notifying banks and beneficiaries, obtaining a tax ID number, opening a trust bank account, keeping records, and handling distributions properly. I also talk about the difference between a simple trust administration and a more complex long-term trust administration . In some situations, a trustee may be able to handle things personally. In more complicated cases, especially those involving special needs trusts , rental properties, ongoing management, or annual tax filings, it may make sense to bring in an attorney, accountant, or financial advisor. In this episode, I discuss: What happens after the…
People in this episode
Host: Michael Pevney
Topics covered
- trustee responsibilities
- trust administration
- living trust
- probate avoidance
- fiduciary duties
- asset management
Keywords
- trustee
- living trust
- probate
- fiduciary
- trust administration
- assets
- beneficiaries
- tax ID number
- trust bank account
Mentioned in this episode
Places: California
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