Trust Administration
Trusts are vital tools in estate planning, designed to manage and protect assets while providing significant control and flexibility to the person setting them up. At Jurist Law Group, PLLC, we specialize in all facets of trust creation and administration, ensuring that your estate is handled according to your specific desires. Whether you are considering setting up a trust, have been appointed as a successor trustee, or are a beneficiary, our experienced attorneys are here to guide you through each step of the process.
What Our Firm Can Do For You
Trust administration involves numerous responsibilities, and our firm is equipped to handle them efficiently:
Trust Establishment
We assist in creating a trust that reflects your wishes and provides for your beneficiaries in the most effective manner possible.
Successor Trustee Guidance
We provide comprehensive support and legal advice to successor trustees to ensure a seamless transition and ongoing management.
Contest Handling
If there are disputes or contests regarding the trust, we represent and support beneficiaries or trustees in resolving these issues legally.
Asset Distribution
After all obligations are met, we handle the distribution of trust assets to beneficiaries as outlined in the trust documents.
Management of Trust Assets
Our team ensures that all assets within the trust are managed according to the terms set forth by the settlor.
Beneficiary Rights Enforcement
We help beneficiaries understand their rights and ensure they receive the entitlements due to them under the trust agreement.
Tax and Debt Settlement
We oversee the handling of any debts or taxes owed by the trust to ensure they are paid and that the trust remains compliant with state and federal laws.
Ongoing Consultation
We provide ongoing legal advice to trustees and beneficiaries to address any concerns that may arise during the lifespan of the trust.
FAQs About Probate
What is the role of a successor trustee?
The successor trustee manages the trust's administration after the original trustee passes away or becomes incapacitated. This includes managing assets, paying debts, and distributing the remaining assets to beneficiaries according to the trust’s terms.
How do beneficiaries contest a trust?
Beneficiaries must file a contest within a specific period, typically 90 days from receiving notice of the trust. It is crucial to act within this timeframe to challenge any aspects of the trust they believe to be incorrect or unfair.
What happens if a trustee is unable to fulfill their duties?
If a trustee becomes incapacitated or passes away, a successor trustee takes over the responsibilities automatically upon acceptance of the role, ensuring continuity in managing and protecting the trust's assets.
Are trusts only for the wealthy?
No, trusts are beneficial for individuals of varying financial backgrounds as they provide a means to manage assets, protect privacy, and avoid probate, among other benefits.
Expertise
Our attorneys are well-versed in the complexities of trust law and provide expert guidance to ensure trusts are administered effectively and legally.
Personalized Service
We tailor our services to meet the specific needs of each client, whether you are a trustee or a beneficiary.
Proactive Support
We anticipate and manage potential issues in trust administration, offering proactive solutions to avoid complications for trustees and beneficiaries.