Trust Administration
Trust administration refers to the trustee’s management of trust assets according to the trust document’s terms, for the benefit of the trust’s beneficiaries.
During Incapacity
A properly funded trust, in conjunction with a durable power of attorney, allows for a smooth transition of authority if a person becomes unable to manage their assets and personal care. Without the proper planning, an incapacitated person may need a conservatorship, which can be time-consuming and costly. A conservatorship is a probate court proceeding where the judge will appoint a responsible person or an organization to protect an incapacitated adult.
Post-mortem
For most individuals, a trust administration begins at the most difficult time: the death of a friend or family member. When this occurs, the last thing a person needs is to be presented with a multitude of unfamiliar tasks and complex actions. Our firm can provide you with the help you will need to properly complete a trust administration.
Post-mortem trust administration consists of a variety of tasks that a Trustee must complete when managing and administering the trust for the benefit of the trust beneficiaries. These include specific tasks spelled out in the trust document or tasks required of all trustees under state or federal law. The post-mortem administration of a trust is generally without Probate Court supervision.