Trust Administration
Trust Administration
Administering trustees often lack the time, resources or knowledge to personally administer a trust, and therefore may call upon legal assistance. The attorneys at Pettler & Miller have extensive experience drafting and administering trusts. They will create a properly drafted and funded trust, and ease your family’s burden when it becomes necessary to administer the directions contained in it.
Trust Administration During Incapacity
You have a trust but are unable to administer it due to incapacity. A successor trustee must be put in place to act in your behalf. Beneficiaries must be contacted and kept informed; trust assets must be gathered and invested; debts must be paid; tax returns must be filed and taxes paid; assets and/or income must be distributed for your benefit in conformity with the provisions of your trust. A host of other tasks must be accomplished.
We can help you to make order out of the affairs of the Trust and set up things so that it is properly administered.
Trust Administration After Death
After a death of one or both of the people who have established a trust, a successor trustee needs to be put in place administer it. There are various notifications and formalities which are necessary for the successor to perform his or her duties. Property titles need to be checked to ensure that they are in proper form. In some cases, assets must be allocated among sub-trusts, tax elections need to be made, and changes to the trust instrument and/or other documents may be needed. We can advise the successor trustee about all of these matters and assist in him or her taking the actions required.
