Trust Administration
Step 1: Schedule Your Initial Meeting
Start by contacting our firm. Our team members will then work with you to coordinate a meeting date and time most convenient for all involved parties.
Step 2: Tell Us About Your Loved One
You will be provided with a simple and confidential Trust Administration Intake Form to assist you with gathering the necessary information to assist your attorney in evaluating the assets and liabilities of the applicable trust.
Step 3: Meet With Your Attorney
During your initial consultation with an attorney, you will learn about the trust administration process, and the duties that you may have during this time as a Successor Trustee. During this meeting, you will be able to openly discuss your concerns and outline specific items related to your family in a safe and accepting environment. Your initial consultation normally lasts an hour and culminates in your attorney providing you with a proposed course of action with the associated fees to assist you.
Step 4: Administer the Trust
Throughout the process, your attorney will assist you in evaluating assets, preparing releases for beneficiaries, and valuing and liquidating assets. During this difficult time, we want to alleviate as much of the burden and stress on you and your family as possible.
Frequently Asked Questions
What Services Do We Provide?
Trust administration services include:
- Consulting and counseling for trustees and families
- Obtaining tax identification numbers and preparing successor trustee affidavits
- Reviewing trust assets, beneficiary designations, and ownership status
- Advising trustees on fiduciary duties and responsibilities
- Communicating with beneficiaries to ensure clarity and transparency
- Assisting with the distribution of personal property
- Coordinating with CPAs and financial advisors on accounts and tax filings
- Preparing and filing deeds for real estate and mineral interest transfers
- Notifying oil and gas companies of new ownership
- Establishing sub-trusts, special needs trusts, or dynasty trusts for ongoing administration
- Obtaining beneficiary releases to protect trust assets and trustees
What Should You Do with All Your Documents?
Organize and consolidate your important documents and account information to make administration smoother and less stressful for those handling your affairs.
Client Testimonials
When it comes to estate planning, ensuring that your wishes are honored and your assets are managed appropriately can be a complex and daunting task. One way to add a layer of protection and oversight to your trust is by appointing a trust advisor.