Trust Administration

Trust Administration has many steps to safeguard effective administration of the trust property. How the trustees manage the details according to the trust document, and how items are conveyed to beneficiaries after the settlor’s death require knowledge, experience, and exacting measures. Trust Administration deals with items such as bank accounts, real and personal property, life insurance, pensions, IRAs and etc. When a loved one dies, if they have a trust, the process of Trust Administration will need to be executed. The trustee/s need to fully understand what should happen at the time of death of the one who created the trust. 

Steven Patterson, Attorney at Law works diligently to understand, communicate, and execute the wishes of the deceased. It has been our experience that clients sometimes have unrealistic expectations about how their trust will work when a death occurs. Some people believe that once the trust is created that it doesn't need any further attention, and that everything will play out “automatically.” A key to remember is that by having a trust you are avoiding probate (provided that the trust is property funded), and that there could be estate tax savings as a by-product of the estate plan. Follow through on the trust is where we excel!

 If you or your family are needing assistance administrating a trust, give us a call. At Steven Patterson, Attorney at Law, we are here to help and assist in any way we can.