After a loved one’s passing, moving forward can be difficult as you process loss and grief on your road to healing. But the aftermath of a family member’s death often involves challenges beyond painful emotions. Many individuals must also bear the multitude of unfamiliar responsibilities involved in administering a loved one’s estate, facilitating the wishes set forth in the decedent’s estate plan, and ensuring that they meet all of their legal and ethical obligations. Even when all goes smoothly, these duties can be stressful, confusing, and time-consuming. If family conflicts, financial complications, or legal hurdles arise, trust administration can become an overwhelming burden.
Unmatched Experience and Comprehensive Assistance for Trustees
For those charged with such an important and complex role, experienced, knowledgeable, and comprehensive assistance can be indispensable. The Elyria trust administration attorneys at King & Chavez help trustees and their families with every aspect of trust and estate administration. Always accessible and committed to exceptional, personal service, we provide clarity, confidence, and closure for estates of all sizes and complexity.
We bring a unique combination of backgrounds and 40 years of combined experience to our trust administration services. Not only are we experienced trust administration attorneys, but we also have extensive backgrounds serving as fiduciaries and trust officers for local and regional national banks.
In these roles, we bore the responsibility of administering trusts held by a bank to ensure that they were administered in accordance with the intentions of the persons who established the trusts for their loved ones. We gained invaluable insights and perspectives while working directly with beneficiaries to identify their needs and provide them with guidance.
Our experience extends far beyond the legal aspects of estate administration, as we also have a deep understanding of its many financial and tax issues, including monitoring how trust assets are invested and the tax ramifications of those investments to the trust and the beneficiaries. Our backgrounds also facilitate seamless and efficient communication and cooperation with your financial and tax advisors.
Turn to Us for All of Your Trust Administration Responsibilities
Working closely with trustees and their families, we help with every aspect of trust administration, taking the burden from those who may have neither the time nor background to handle these matters themselves. This includes assuming responsibility for such tasks as:
- Gathering and taking control of trust assets.
- Identifying and notifying beneficiaries.
- Reviewing and paying legitimate debts and claims against the estate.
- Contesting or settling disputed claims, including in litigation.
- Managing estate assets.
- Calculating and paying all state and federal taxes.
- Preparing and filing trust tax returns.
- Providing a trust accounting to the beneficiaries annually as well as on termination of the trust or a change of trustee.
- Supplying beneficiaries with relevant information about the trust’s assets and liabilities and updates regarding trust administration.
- Keeping clear and accurate records of the trust’s administration.
- Distributing the estate to beneficiaries pursuant to the decedent’s directions.
Call King & Chavez to Discuss Your Trust Administration Needs
At King & Chavez, our Elyria trust administration attorneys understand that a trustee’s sincere desire to live up to the trust placed in them is often at odds with his or her capacity or ability to do so. Our role is to bridge the gap between your good intentions and the overwhelming challenges involved in trust administration. Please call us at 440-365-0386 or contact us online today.
