Trust Administration

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Trusts are such wonderful estate planning vehicles.  There are many reasons a trust can greatly help in a given situation.  Once a trust is created, the Trustee, and possibly other individuals with roles in the Trust, have duties and responsibilities.  A trust may continue on for a lengthy period of time or be terminated and closed out based on its terms and the surrounding circumstances.

My goal is to work actively with Trustees to handle the trust administration in all its various stages. The Trustee can count on me to ensure the legal requirements are met and everything is in order.  There are also creative options I love to explore to potentially amend an existing trust. 

After an initial  15-minute discovery call , the steps for working on trust matters include:

1. An Engagement Letter is signed and Retainer sent
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My services include:

 

  • Trust review and consultation

  • Initial trust set-up with obtaining tax identification number, establishing accounts, re-titling assets and other preliminary matters

  • Revisions of trust documents, including possible decanting

  • Working with trustees in regard to overall trust administration

  • Preparing Crummey notices, if required

  • Advising on beneficiary concerns/issues

  • Advising on proper trust distributions

  • Monthly accountings

  • Yearly accountings

  • Final accountings

  • Working with accountants for filing fiduciary income tax returns

  • Handling final paperwork to terminate and close a trust

  • Handling trust litigation

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