Trust Administration

We understand the heavy heart you carry if you’ve come to us following the passing of a loved one. Please accept our heartfelt condolences during this difficult time.

Navigating the complexities that come with this moment is challenging, but we’re here to offer our support and assistance.

Our goal is to ease the burden on you, assisting with the location of assets, handling bills, and ensuring the seamless transfer of your loved one’s assets to the right hands, all while avoiding court disputes and conflicts.

If your loved one had the foresight to establish a trust, including proper asset titles and beneficiary designations, we’re poised to manage the estate administration efficiently, circumventing the probate court process.

Who We Serve

We dedicate ourselves to working alongside the families, beneficiaries, and advisors of the deceased, managing the trust assets meticulously from inventory and debt settlement to beneficiary distribution. Depending on the trust specifics, assets may be distributed directly to beneficiaries or held in trust for their future advantage.

Your Support in Times of Need

At Kitzes Law we extend a warm thank you for considering our services during such a pivotal time. We recognize you have choices in legal representation, and we’re committed to supporting you through any period of loss or difficulty.

Understanding Trust Administration

A trust mandates the appointment of a trustee responsible for the asset management and adherence to trust terms. This role demands significant responsibility and often, the trustee may lack the legal and financial expertise required for trust administration. This is where professional legal assistance becomes invaluable, ensuring the trust’s proper administration, compliance with legal standards, and minimization of personal liability for the trustee.

During the trust administration phase, we assess asset titles and beneficiary designations, coordinate asset appraisals, and determine the need for probate processing, aiming to accurately evaluate the deceased’s estate for tax purposes.

Trustee Responsibilities

Trustees are entrusted with comprehensive duties, including but not limited to:

• Notifying heirs and beneficiaries about the trust administration
• Asset identification and collection
• Asset valuation
• Settling debts, expenses, and taxes of the trust estate
• Conducting regular accountings throughout the administration
• Seeking professional advice for asset disposition, including life insurance and retirement benefits
• Retaining a qualified CPA to prepare tax returns and reporting for federal, state, gift, and generation-skipping transfer taxes
• Keeping beneficiaries informed throughout the administration process

Finalizing Trust Administration

The conclusion of trust administration involves asset distribution according to trust terms, whether directly to beneficiaries or held in trust for their benefit. This may include protective measures for minors, individuals with special needs, or those at risk of creditor issues.

The completion process can be intricate and time-consuming, and trustees often seek assurance against future claims of misconduct. Legal guidance is crucial to navigate these challenges, ensuring a comprehensive and secure administration process.

Ensuring Trustee Confidence

We are dedicated to supporting trustees, offering peace of mind that all duties are fulfilled in accordance with the law, free from unnecessary risks or liabilities. Our aim is to facilitate a smooth trust administration and foster positive communication with beneficiaries, preventing disputes born from misunderstanding or lack of transparency.

Your role as a trustee is significant, and with our guidance, you can navigate this responsibility with confidence, knowing that every step is taken with care and in the best interest of all involved.