Serving as Trustee is not a an easy job. It’s full of potential pitfalls and personal liability.
When it comes time to administer a trust, whether upon establishment of an irrevocable trust or the death of the settlor of revocable living trust, complying with the often complex provisions, meeting tax requirements, and managing and distributing trust assets can overwhelm the trustee and result in mistakes. A trustee may be unfamiliar with these matters, or unprepared to manage them effectively.
TrustCounsel’s trust lawyers help trustees administer simple and complex trusts. Our firm also offers a guide for successor trustees that provides valuable information for the administration of revocable living trusts. Our lawyers advise on several areas of trust administration, including division into sub-trusts, compliance with complex tax laws, proper trust distribution practices, and more. We serve as counsel to the trustee or can act as trustee. Learn more about tax duties in trust administration, trust modification, and more by contacting our attorneys.