Don’t Wait—Why Prompt Estate or Trust Administration Matters

After a death, the clock starts ticking. Under Probate Code §16061.7, a successor trustee has 60 days to notify heirs and beneficiaries once a revocable trust becomes irrevocable. Dragging your feet invites problems:

• Statutory penalties & personal liability. Missed notices or late accountings can expose the trustee to surcharge or removal.

• Tax deadlines. Estate tax returns (Form 706) and fiduciary income tax returns (Form 1041) carry hard due dates—often nine months or less from death. Interest and penalties accrue quickly.

• Asset risk. Uninsured property, uncollected rents, or unmanaged investments can lose value fast. Early action secures, inventories, and, where appropriate, sells or re-titles holdings.

• Beneficiary confidence. Silence breeds suspicion. Timely communication maintains transparency and reduces litigation threats.

• Strategic elections. Portability of a deceased spouse’s estate-tax exemption and capital-gain step-ups are use-it-or-lose-it. Delay can cost the family six figures.

Bottom line: prompt administration protects both beneficiaries and the person in charge. If you’ve been named trustee or executor, Shafae Law can guide you from day one so you stay compliant and stress-free.