Trust Administration

As a trustee in a loved one’s estate, you have numerous administrative and fiduciary duties that fall into place as soon as he or she passes away. Underestimating these responsibilities can lead to exponentially more difficult legal and financial headaches, while dismissing them outright can lead to liability concerns, and even open loopholes for creditors or the IRS to drain your family’s assets.

Our firm has streamlined programs in place to assist you in your formal duties as a trustee. We will walk you through the process of marshaling assets, investing correctly, proper inventory, paying creditors, accounting, and finally distributing assets in an economical and timely manner.

case study

Shawn is named as trustee in his mother’s estate plan, but after she passes away, he procrastinates for a year before addressing his legal duties. During this time, his brothers and sisters grow impatient, and file in court demanding transparent accounting of the trust, as well as Shawn’s removal as trustee. Our firm worked with Shawn to take care of proper administration, file tax returns, accounting, and distribution. Furthermore, we prevented his removal as trustee, and avoided any surcharges against him.