Demystifying trust administration
As trustee, you are responsible for analyzing the terms of the trust agreement and distributing trust property according to the agreement.
Although the trust agreement may not require an attorney to assist with administration, the benefits of hiring a trust attorney often outweigh the cost, especially at a firm like ours:
– Demystify the trust administration process by providing a clear framework of tasks, timing, and next steps
– Discharge your duties sooner and minimize errors
– Reduce the risk of being sued by beneficiaries
– Beneficiaries may receive their inheritances sooner
Our team of professionals have the experience, practical know-how, and sharp desire to help you complete your trustee duties efficiently and effectively.
Customize our involvement to your needs and budget.
Get an upfront cost estimate to help you choose how to proceed.
Trust administration guidance includes:
– A framework of tasks, timing, and templates to complete the job efficiently and effectively
– Developing a distribution plan based on the terms of the trust agreement
– Communicating the distribution plan to beneficiaries to limit liability as trustee
– Defending creditor claims and paying trust debts
– Terminating the trust once all assets have been distributed
Former Probate Judge & litigators
We are a father/son/close friend team with 60 years combined experience. We guide sensitive conversations, answer your toughest questions, and provide advice that clarifies and simplifies.
Pricing to fit your budget
Moore Legacy Law customizes our level of involvement to each client’s needs and goals. We will be transparent about our cost and provide a complete estimate before you incur a fee.
Discharge your duties faster
Increase efficiency and minimize errors, limiting your personal liability for mistakes. Moore Legacy Law helps trustees to discharge their duties more easily and beneficiaries to receive their inheritances sooner.
What is a trust?
A trust is a legal relationship between three entities: a grantor (the person who makes the trust), the Trustee (the person who holds in their possession the property held in trust), and the beneficiary (the person or entity that benefits from the property held in the trust).
The grantor gives the Trustee the right to distribute assets held in the trust upon the grantor’s death. The trust agreement outlines the rules the Trustee much follow including:
· Instructions on how to administer the trust at the incapacity or death of the creator
· Instruction on how to hold or distribute trust property at the death of creator
What are the benefits of a trust?
· Avoid probate – which eats up time and money, causing delays in distributing inheritances and smaller amounts to be distributed
· Better control how assets are distributed: Everything in a will goes “outright” to your beneficiaries – they get the whole amount (after probate fees) as soon as it’s available (after probate delays). With a trust, you can make stipulations. For example, you can detail when you’d like your minor children to receive payments and how much each should be. (And again, this is huge: you avoid probate fees and delays.)
· Protect beneficiaries from their own creditors as well as yours
· Help minimize the Estate Tax
What does a trust NOT do?
A revocable living trust will not allow you to exclude assets for purposes of qualifying for Medicaid.
A revocable living trust will not protect you from an existing lawsuit.
Who needs a trust and why?
Anyone who wants their estate to avoid probate should consider a revocable trust.
Is your estate planned?
The estate plans Moore Legacy Law creates employ trusts and/or Non-Probate Transfer Designations to avoid probate.
Probating an estate or administering a will?
Our team has the knowledge, experience, and professional relationships to make estate administration predictable and productive for our clients.
How can we help?
Fill us in on your needs. The first conversation is free, and it’s reassuring. We will provide transparent pricing options to fit your budget, so you can decide whether, when, and how to proceed.
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