We have significant experience in assisting with the administration of trusts, in advising trustees, and assisting beneficiaries regarding their rights and expectations. We prepare estate tax returns and deal with the Internal Revenue Service on various estate tax related issues, including valuation disputes and significant legal issues. Our staff is very experienced with trust and estate administration matters, allowing us to accomplish the necessary tasks efficiently.

Once the grief of a loved one’s death has passed, you will have to turn to the business of administering the trust. If you are the trustee of trust, you can expect many demands are going to be made on you. Beneficiaries want their money, the government wants taxes paid, and creditors want their bills paid. Our firm can help demystify the trust administration process for you.

There are generally three main responsibilities that occur upon someone’s death with regard to their estate assets. Someone will be responsible for ensuring that:

1) The decedent’s assets are collected and managed; 2) All debts, taxes and expenses of the decedent are paid, or properly dealt with; and 3) Administering and distributing the assets for the benefit of the beneficiaries.

A trustee is classified by law as a “fiduciary” – defined as a person or entity “who by reason of a Trust, Will, court order or other instrument has the responsibility for the acquisition, investment, reinvestment, exchange, retention, sale, or management of money or property of another.” Other fiduciaries include persons acting under power of attorney. Often there are huge responsibilities and significant potential liability if the successor trustee fails to perform the required duties.