Trust Administration

What is Trust Administration?

When the grantor of a trust becomes incapacitated or passes away, a successor trustee is named to care out their wishes. Often, this trustee is equipped to step into that role without any assistance. But from time to time, a trustee needs assistance in understanding or carrying out their role. That's where we can help. If you have been named as a trustee in a trust and, due to your life circumstance or your ability or willingness to manage your responsibilities alone, you wish to receive assistance, we are able to give you all the expert guidance you need.

Understand Your Duties and Responsibilities

A Last Will & Testament is your voice when you’re no longer here to speak for yourself. It’s a document that tells the court who should receive your assets, who should care for your minor children, and who you trust to make sure everything is done right. Without a will, the state decides these things for you. A will gives you the power to make your wishes clear.

File Tax Returns, Income Taxes and Capital Gains

Not everything you value is about dollars and cents. Maybe it's a grandfather's watch, a cherished family quilt, or a collection of letters. A Personal Effects Memorandum lets you list who should receive these sentimental items without needing to change your will every time. It’s a simple way to ensure your treasured possessions end up in the right hands.

Sell Real Estate

Life is unpredictable. If an illness or accident leaves you unable to manage your own affairs, a Durable Power of Attorney lets someone you trust step in. They can pay your bills, manage your accounts, and handle other financial matters on your behalf. This document keeps things running smoothly when you can’t.

Work with Financial Institutions Holding Trust Assets

Work with Insurance Companies to Distribute Assets to the Trust

Work with Tax-Deferred Retirement Accounts

Mediate and Resolve Conflicts Among Trust Beneficiaries

FAQs

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