trust administration

Trust Administration: Helping the Successor Trustee Carry Out Legal Duties
Trusts have become very popular over the past decade because they offer so many advantages compared with traditional Last Wills. Trusts include Revocable Living Trusts, Special Needs or Supplemental Needs Trusts, Irrevocable Life Insurance Trusts, Medicaid Asset Protection Trusts, Inheritors’ Trusts, Gifting Trusts, Personal Residence Trusts, and so on.

When a loved one dies leaving a Trust, the successor Trustee has a moral and legal duty to ensure that it is properly administered—and that the surviving beneficiaries receive prompt distributions of assets.

Facing these tremendous legal responsibilities, most successor Trustees do not know how to properly and effectively administer a Trust. Some of the responsibilities include: marshalling trust assets; paying the decedent’s debts; preparing the proper federal and state death tax returns; dealing with the IRS; and making distributions to the surviving beneficiaries—and doing all of this according to the exact terms of the trust. In short, the potential for error is great.

Morana Law provides trust administration services to help successor Trustees manage the perplexing and technical aspects of administering a trust or estate.

These services include:

• Representation of the Estate and Personal Representative (Executor)
• Federal and State Estate Tax preparation
• Trust Administration assistance
• Mediation of Family disagreements
• Collecting and Re-titling estate assets
• Minimizing tax hassles and managing complex Trusts
• Ensuring you stay within the bounds of the law
• Ensuring the decedent’s wishes are properly carried out
• Organizing information pertaining to trust and estate administration
• Answering legal questions as they arise in the course of Trust Administration

Contact Us
Morana Law serves Merrimack Valley and the surrounding areas, including Andover, North Andover, Methuen, Haverhill, Dracut, Lawrence, Tewksbury, Billerica, North Reading, Wilmington, Reading, Lowell, Chelmsford, Westford, North Chelmsford, Dunstable, Bedford, Burlington, Boxford and Georgetown.

Email us or call us at 978-409-1990 to schedule a consultation with an Andover trust administration attorney about your administration concerns.