Experienced Guidance In Your Trust Administration

What Is Trust Administration?

The responsibilities of a trustee can seem overwhelming. I have the experience and foresight necessary to help you overcome any obstacles in your trust administration. You can rely on my services to help you:

Trust administration refers to the management of trust property by a trustee according to the terms of the trust document and for the benefit of the trust beneficiaries. In many cases, it occurs when the person who created the trust (called the settlor) passes away.

Since effective administration requires many steps that have to be taken, it’s a good idea to consider hiring an attorney who is experienced with the administration process, collection of assets, transfer to the beneficiaries, and other required tasks. 

If someone fails to oversee the trust administration properly, they can become liable for the funds’ improper use or management. With my experience in estate planning needs, you can rest easy knowing that you have an attorney with the know-how and commitment necessary to swiftly and accurately resolve your trust administration needs.

How Does Trust Administration Go?

It typically starts with a required notice to all beneficiaries and the settlors’ heirs. After that, the beneficiaries have a certain period when they can file a trust contest if they would like.

In addition to collecting the decedent’s assets, successor trustees are required to pay the settlors’ debts and manage their liabilities. Taxes can be particularly complex because if the estate is large, both estate and income taxes may be owed.

Bear in mind that if the trust includes real property, the trustee may have to file documents and vest title in the successor trustee so the property can be distributed or otherwise managed.

After the trustee performs their duties, such as paying debts and taxes, as well as filing tax returns, they can start distributing the remaining trust assets to the beneficiaries according to the terms of the trust document.

Many Colorado laws, including Colorado Uniform Trust Code (CUTC), provide guidance for trustees and facilitate trust administration. Being a trustee is not an easy task. A trustee must always consider the best interest of the beneficiaries, as well as analyze whether tax savings can be achieved. However, many issues may arise during the course of trust administration, so reaching out to a skilled attorney can be beneficial. 

Trust Administration Services We Offer

The responsibilities of a trustee can seem overwhelming. I have the experience and foresight necessary to help you overcome any obstacles in your trust administration. You can rely on my services to help you:

• Gather and document any trust assets
• Notify any beneficiaries of any possible inheritances
• Pay any remaining debts that the estate owes
• Manage and disperse the estate’s assets in accordance with the trust

If someone fails to oversee the trust administration properly, they can become liable for the funds’ improper use or management. With my experience in estate planning needs, you can rest easy knowing that you have an attorney with the know-how and co