Properly drafting and funded Trusts can be an excellent device to avoid Probate upon a person’s passing, and to assist in management of a person’s assets in the event of his or her incapacity.

Helping Trustees to Fulfill Their Duties

Most persons who are named as a Trustee of a Trust have never had that responsibility. We represent and counsel these persons in fulfilling their duties as Trustee, including determining the assets subject to Trust administration, managing those assets which often include real estate, bank and brokerage accounts.

If the person who has created the Trust has died, we advise and assist the Trustee in distributing the Trust assets to beneficiaries in accordance with the terms of the Trust.

Coordinating with Other Professionals

As part of this work, we generally coordinate with investment advisors, accountants and real estate agents. Particularly after the person who has created the Trust has died, tax filings for the Trust are subject to particular tax rules. We counsel Trustees regarding these rules, including the importance of engaging a CPA and other professional tax preparer to assist the Trustee in with the necessary tax filings.