Following a person’s death, many processes can kick into high gear in order to settle any unresolved affairs from that person’s life. This can include anything between probate and trust administration. Trust administration is an important process to ensure the protection and proficiency of any assets within a trust. When the trust administration process begins, a trustee may be responsible for overlooking the trust administration process.
Oftentimes, a trustee enlists the help of an experienced trust administration lawyer that can help with nearly every aspect of trust administration. A trust administration lawyer can analyze the trust and come up with a solid plan to maintain and distribute the trust to its beneficiaries accordingly. A trust administration lawyer can also draft documents, review the trust, and do many more tasks that trust administration requires.
Can a Lawyer Help Me Resolve a Dispute?
One aspect of trust administration that can be overlooked but not understated is disputes that can occur during the trust administration process. Depending on the number of beneficiaries recognized by the trust, disputes can remain amicable or can turn very contentious. It is possible that beneficiaries believe they are entitled to certain assets and property belonging to the trust and may raise questions and even try to legally contest the process.
When disputes happen, it is best to have a trained and experienced lawyer to help resolve these matters. Having to balance disputes and other aspects of trust administration can be overwhelming. A trust administration lawyer can help you maintain control of your trust without any serious problems manifesting themselves.
Can a Lawyer Help Me Minimize Taxes Paid for a Trust?
There are several assets in an estate that will be subjected to taxes. With some slick maneuvering, a trust administration attorney can minimize the impact of any taxes the assets of a trust are subjected to. An attorney can also help you file taxes on assets and pay any taxes that are owed. Trust administration can be much easier with a helping hand by your side.
What Can A Lawyer Do For The Trust I’m Overseeing?
Your decision to pursue legal counsel is critical to the overall success of administrating a trust. An experienced trust administration law firm like Israel & Gerity, PLLC can make a major difference in the way your trust operates. Juggling all the aspects of trust administration on your own can cause you to overlook details that can alter the purpose of the trust itself. Be sure to give Israel & Gerity, PLLC a call at 602-274-4400 to set up a free consultation which can lead to a fruitful partnership.