The administration of Trusts and Estates for deceased or incapacitated persons is a wide-ranging practice area. Whether a person has a complex Revocable Trust, a simple Will, or no estate planning documents, action must be taken to handle their affairs.
Assets must be inventoried and liabilities resolved. Decisions must be made regarding investments — whether to hold, sell, or distribute them to heirs. Personal property must be stored, given to heirs, auctioned, or donated. Real estate may need to be sold or a business wound up. Disputes sometimes arise among beneficiaries, requiring effective solutions to avoid family problems. All of these matters must be handled with attention to detail.
The person responsible for administering a Trust or Estate (the fiduciary) has a significant duty to handle everything properly. The fiduciary must assume control of assets, pay debts and expenses, file tax returns, and account for all activities.
Handling a Trust or Estate is very different from managing your own assets. The fiduciary often must balance competing family interests. These responsibilities should not be taken lightly, even if there are few assets or liabilities. Failure to manage the Trust or Estate properly can result in personal liability.
Our probate lawyers attend to the details, seek to avoid conflicts among beneficiaries, and work to uncover tax-saving opportunities. Our work ranges from helping clients maximize estate planning objectives to consulting with fiduciaries if problems arise. No matter the size of the Trust or Estate, we are committed to thorough, effective representation.
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