Administering a trust can be a complex and time-sensitive process. Our firm provides comprehensive legal services to guide trustees through every step of trust administration, ensuring that all duties are fulfilled in accordance with state laws and the terms of the trust. Below is an overview of the services we provide:
- Initial Trustee Guidance: We help new trustees understand their legal responsibilities, including fiduciary duties, notifying beneficiaries, and managing trust assets.
- Trust Asset Management: We assist trustees in gathering, valuing, and managing trust assets, ensuring proper record-keeping and compliance with all legal requirements.
- Trust Accounting and Reporting: Our team prepares detailed accountings of the trust’s financial activity, ensuring transparency and fulfilling reporting obligations to beneficiaries and the court if necessary.
- Beneficiary Communication: We facilitate clear and timely communication with beneficiaries, addressing any concerns, distributing assets, and managing expectations to minimize disputes.
- Tax Compliance: Trusts often have significant tax obligations. We work with our clients to make sure that all tax filings, including income tax returns and estate tax returns, are completed accurately and on time.
- Dispute Resolution: If disputes arise among beneficiaries or other parties, we provide legal representation to resolve conflicts efficiently, whether through mediation, negotiation, or litigation.
- Trust Termination: Upon the completion of the trust’s objectives, we handle the distribution of assets to beneficiaries and the legal termination of the trust.