estate trust administration

Estate & Trust Administration

The administration of Trusts and Estates for deceased or incapacitated persons is a wide-ranging practice area. Whether a person has a complex Revocable Trust, a simple Will, or no estate planning documents, action must be taken to handle his or her affairs.

The assets must be inventoried and liabilities resolved. Decisions have to be made regarding investments – to hold, sell or distribute them to the heirs. Personal property must either be properly stored, given to the heirs, auctioned, or donated to charity. Real estate may have to be sold or a business wound up. Disputes sometimes arise among beneficiaries and an effective solution must be sought to avoid family problems. All of these matters must be handled with careful attention to the details.

The person responsible for handling the administration of a Trust or Estate (known as the fiduciary) has a considerable duty to handle everything properly. The fiduciary has many responsibilities and will need to assume control of the assets, pay the debts and expenses, file tax returns, and account for all his or her activities.

Handling a Trust or Estate for a deceased or incapacitated person is very different than handling your own assets. The fiduciary often has to balance the competing interests of many family members. The responsibilities should not be taken lightly, even if everyone appears to get along and there are few assets or liabilities. If the fiduciary does not handle everything properly, he or she could become personally liable for any problems.

Our probate lawyers attend to the details, seek to avoid conflicts among beneficiaries, and work to uncover tax saving opportunities. Our work in this area ranges from helping clients maximize their estate planning objectives to consulting with fiduciaries if problems arise. No matter how small or large the Trust or Estate, we are committed to thoroughly representing our clients.

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Our advice is backed by 25 years of experience and based on over 1,500 client engagements.