We are passionate about helping our clients through good times and bad. Whether you are trying to put protections in place for your future, need assistance after the loss of a loved one, or a combination of both, we're here to help. Our attorneys are knowledgeable and compassionate, while still being realistic about our desire to help.
Let's discuss your case and determine the best course of action for YOUR situation, to accomplish YOUR wishes.
Trust Administration includes all of the administrative procedures that may be necessary after a trust or estate plan has been created.
This includes any changes during or after the lifetime of the person or persons who created a Revocable Living Trust. It might involve a trust amendment or restatement, transfers of assets into or out of the trust, updating other estate planning documents that work in conjunction with a trust, distributions of assets held within the trust, or other administrative tasks.
Trust administration also involves post-mortem completion of trust requirements. It helps to ensure timely distributions, while also avoiding disputes, providing timely notice, and executing other necessary administraitve procedures that may be required within a certain period of time after a death occurs. While having a trust can eliminate the need for probate and vastly reduce fees and time tables, there are specific administrative post-death procedures that are mandatory requirements for trustees, as well as a number of good practice items to take care of.
More than anything, it is important to understand that a Trustee has a fiduciary duty to perform competently and reasonably. If you are the Trustee of a trust, make sure you understand your obligations. If you have questions, we're here to help - give us a call.