We can help clients with trust formation and administration by providing advice on the different types of trusts and their uses, including testamentary trusts, revocable trusts, and irrevocable trusts are examples of different types of trusts that can be used for different purposes. Assisting with the creation of a trust document, and providing guidance on fiduciary duties, asset management, and distribution.
A trust is a legal arrangement in which a trustee holds assets for the benefit of a beneficiary. Trust administration involves managing and distributing the assets held in the trust according to the terms of the trust document. A trustee has a fiduciary duty to act in the best interests of the beneficiaries, and must follow the instructions laid out in the trust document. An attorney can help clients with trust administration by providing advice on their fiduciary duties, assisting with asset management and distribution, and helping to resolve any disputes that may arise.
Our trust administration services help you manage and distribute assets held in a trust. We advise trustees on their legal duties and obligations, help them manage the trust assets, and work with them to distribute the assets to the beneficiaries. For example, we recently assisted a trustee who was dealing with a beneficiary who was a minor. We helped the trustee comply with their legal duties and ensure that the beneficiary’s interests were protected.
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