Trust Administration with ULTRA's
Prepaid Estate Settlement Program
Trust Administration is required to carry out the terms of a Living Trust after the Settlor(s) death. Many times, the appointed Successor Trustee will have little to no experience settling an estate and can cause tax issues and legal problems.
What is the Prepaid Estate Settlement Program?
By enrolling in the ULTRA Prepaid Estate Settlement Program, your Trustee(s) and Beneficiary(ies) will work with a licensed professional to carry out the terms of your Trust. This will allow costly errors to be avoided and will ensure that your estate is managed and distributed according to your wishes.
Listed below are a few documents and services included in the program.
Email Us to get a full list of the services provided in this program.
Consultation
An in-home or virtual consultation will be provided to the designated Successor Trustee that will be responsible for handling the estate settlement process.
Notice to Beneficiaries
A complete copy of Living Trust and supporting documents are constructed and sent to beneficiaries on behalf of the Trustee. This is required by law and serves notice of the disposition of the estate and the distribution thereof.
Real Property Documents
Documents required by the County for each deceased Trustee to notify the county of the passing of the Settlor(s) and allows the Successor Trustee to manage and distribute the property.
A deed is required to transfer title from the Trust to the beneficiary(ies) and processing forms required by the County Recorder. Only applicable if a beneficiary is named to receive real property from the estate and the real property held in Trust is not being liquidated.
Tax Preservation
Tax benefits to beneficiaries are available through California County offices preserving established tax basis for real property. Parent to child or grandchild transfers are allowed by the counties of California enabling the beneficiaries to keep family property without the extra burden of a new tax basis if said property is a primary residence of both the Grantor and Grantee.
Tax ID Number
A Trust Tax ID Number will be applied for on behalf of the Trustee and assigned to the Trust estate by the IRS. This Tax ID Number will be used in establishing a Trust bank account from which the Successor Trustee will pay debts and taxes of the Settlor.