Trust Administration Burnsville, MN
Guiding trustees through the legalities of trusts
What is the trust administration process?
Trust administration is the process of fulfilling the trust creator's official wishes when they pass away or become incapacitated. The creator of the trust, or the trustor, dictates how and to whom their assets should be distributed after they pass away. A designated party, known as a trustee, is chosen by the trustor to carry out these wishes. This is often, but not always, a family member or close friend.
The process begins by giving adequate notice to all beneficiaries and heirs in the appropriate format. After that, the trustee is then responsible for notifying state agencies, filing an estate tax return if needed, mediating disputes between beneficiaries and non-beneficiaries, among other requirements that can quickly stack up and be confusing and overwhelming. Due to this, it is strongly recommended that you work with a qualified estate planning attorney, such as Carrie A. Renner with Provision Law Firm to make sure all laws are being followed, and administration takes place in an efficient manner.
If you have been named as Trustee, you have a legal obligation and standard that you must follow. If you are looking for guidance to administer a trust, we will represent you in this process so that the terms of the instrument as well as state law are followed.
Estate Planning Practice Areas
Blended Families
Cabin Succession Planning
Charitable Giving
Pet Planning
Business law
Planning for Minor Children
probate
Special Needs
Can Someone Effectively Manage Trust Administration Without Legal Counsel?
Probably not. Most people, especially those whose careers aren't in law, simply are not aware of the steps to be taken and requirements that need to be met. Working with Provision Law Firm ensures that we both meet all of your personal needs, as well as comply with laws surrounding trust administration. Attempting to handle this without legal counsel is not advisable for the vast majority of people, and it will likely cause much more stress and wasted time than it is worth.
What Sets You Apart In Handling Trust-Related Matters?
At Provision Law Firm, we promise to listen first, so we can understand your wants and needs when it comes to working with you during the trust administration process. We understand that we are making real decisions that affect real people, and we’re committed to guiding you through the trust and honoring your loved one’s wishes. We welcome your family into the process as you see fit, and are always willing to meet with them to answer questions and explain our processes. Lastly, we take pride in always being available for prompt communication during business hours. Any questions or concerns you may have are valid and will be addressed.
Hear from one of our happy clients
“My wife and I needed to update our trust documents after many years and life events. Carrie helped explain everything to us and made the changes quickly, following through on every detail. We were pleasantly surprised to find the bill to be very reasonable, too. We would definitely use her again!”
Ready to learn more about Trust administration?
If you’ve got questions about your next steps with trust administration, we’d love to help. We offer a complimentary consultation call where we’ll learn more about your trust administration needs, answer any questions, and explain how our process works at Provision Law Firm.