Even the best estate plans require administration after someone dies. Good planning doesn’t mean nothing needs to be done when someone passes, it just means what needs to be done has been made easier.
As we guide clients during their lives to make and keep good estate plans, we also guide the Trustees in administering and running the Trust after someone dies. Even though we die, our Trusts live on. (That’s why we meet once a year to make sure your plan is up-to-date.)
Being a Trustee is a very serious matter. You are held to a high standard. You will have to make very difficult decisions. You’ll need a law firm that understands the law in this area and can draw from their experience to properly advise you.
Trust Administration and Being a Trustee Involves
- Gathering, Managing and Consolidating Trust Assets
- Insuring Trust Assets
- Collecting What is Due and Paying What is Owed
- Investing Trust Assets
- Tax Elections
- Filing Tax Returns
- Possibly Opening a Probate Estate
- Reporting and Accounting to Beneficiaries
- Distributing to Beneficiaries
D Do you have questions about what to do as a Trustee? Do you have a client who is a Trustee and could use guidance? Contact us for a free consultation 248-444-9811Or Contact Us Here
“Very professionally handled from start to finish. You asked great questions to be sure that I had considered all aspects of the trust which gave me additional confidence that the documents would be very thorough.”
“Prompt with great follow up, took time to explain all of the documents, and simply very professionally handled.”
Mr. Peters made what seemed like a daunting task easier by breaking things into manageable tasks. His approach also contributes to a clear understanding of what needs to be done and how each part will affect your heirs.
This experience, which I had put off for a long time, was so much easier than I imagined. Mr. Peters facilitates a smooth transition of assets into a trust, etc. I felt the terms used in the documents were clearly explained to me. His rates are reasonable considering that it is a fee for a lifetime!