When a person passes away and has a living trust, the first successor trustee will need to take certain steps to administer the estate. The first successor trustee will first need to prepare an inventory of all assets and debts. Next, the trustee will need to obtain an EIN for the estate. Certified copies of the death certificate will be necessary to complete some of the tasks need to administration of the estate. I am often asked how many certified death certificates are necessary and this depends on the number of assets the decedent had. Typically, five is sufficient because oftentimes institutions will view the certified death certificate, but will return it to you when they are done. If you find that you do not have enough certified death certificates, if you are related to the decedent, you can obtain more from the County Recorder’s Office in the county where the decedent passed away. The next step wil be to send out Statutory Notices to the Beneficiaries and lodge the Pour-Over Will with the probate court in the county where the decedent died.
This is a listing of some of the preliminary steps necessary when an individual dies and you have been named as the successor trustee. If you have questions, please feel free to contact me.