Upon the passing of a person who has a Trust (the Settlor), a process called Trust Administration must take place that involves managing the Trust according to the document's instructions. This often involves disbursing property to named beneficiaries which usually means retitling it when property is transferred from the Trust to the beneficiaries. If property is to stay in Trust, those assets will be retitled into the new Trustee's name as the successor Trustee. The successor Trustee must pay the debts of the Settlor, and dependent on the value of the Settlor's estate, file any federal estate tax return due.
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