Hannon Law Office: High-Quality Counsel For Successor Trustees
Trust administration is a complex process that occurs after an estate holder has passed away. The trustee holds a great deal of responsibility, but this burden can be eased with help from an estate planning attorney such as Barbara Hannon.
The Trust Administration Process
When the creator of a trust dies or becomes incapacitated and therefore unable to manage his or her affairs, the trustee takes over. This person’s duties are outlined in the terms of the trust. Typically, the administration process begins with giving notice to any heirs or beneficiaries highlighted in the trust. After the beneficiaries receive notice, they have the opportunity to contest the trust. If the trust holds real property, a variety of documents must be completed so as to vest title. Additional trust assets must also be identified and transferred into the name of the successor trustee. Payment of debts and taxes is also necessary, as is a detailed accounting of the trust’s administration.
How a Trust Administration Lawyer Can Help
The trust administration process is notoriously complex, particularly when contests are filed by beneficiaries. If you have been named trustee, you can benefit greatly from legal assistance, particularly if you find your duties as trustee overwhelming. The right trust administration lawyer can provide in-depth guidance through all phases of the process, ensuring that you abide by all requirements. Even a seemingly small mistake can cause great turmoil among family members and other beneficiaries, but with a knowledgeable lawyer by your side, such mistakes are unlikely.
Barbara D. Hannon: Reliable Counsel For Trustees
Focusing on trust administration is a real struggle in the aftermath of a loved one’s death. During this difficult time, it is in your best interest to have a knowledgeable estate planning attorney in your corner. Consider working with Barbara D. Hannon, a respected lawyer with a wonderful reputation in Alameda and beyond. Barbara D. Hannon is well aware of the stressors that accompany the trust administration process — and she’s willing to patiently guide you every step of the way. She will help you successfully settle your loved one’s estate in a way that minimizes family conflict. Get in touch today to learn more about trust administration and the other estate planning services offered at the Hannon Law Office.