Estate plans are comprised of many different aspects, one of which is often establishing a trust. When an individual makes the decision to establish a trust, they will also have to appoint someone to act as the administrator of that trust after they pass away or can no longer manage it. The individual who is appointed to administrate a trust will be responsible for making sure all debts and taxes are fully paid, the titles to any assets are cleared, among other things. When an individual begins their duties as a trust administrator, they may want to seek guidance from an experienced estate administration attorney who can help them with this sometimes confusing process.
Experienced wills, trusts, and estates attorneys can help someone administer a trust by:
- providing the administrator with information about required taxes
- selling assets
- distributing assets to beneficiaries
- notifying government agencies
- making sure all assets are paid on the timeline indicated as part of the trust
- helping determine whether a trust should be dissolved or switched into a new trust
Anyone who has been appointed a trust administrator should seek legal counsel soon after being named. This way, when it comes time to start the administration process, they are less overwhelmed.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.
