When a trustor dies, there is a misconception that nothing needs to be done. The trust administration procedure is the private administration of a trust. It involves the gathering of assets, payment of the deceased trustor’s debts, complying with required legalities and the sale and distribution of assets where necessary. The administrative process can last as little as six months and is done outside of the court system.
The trust administration is as simple or as complicated as the trust document calls for.