Trust Administration

A trust provides the authority and instructions for someone to manage assets held in that trust. If you have a trust, typically you will manage your trust assets for your own benefit as long as you are alive and well. When you cannot manage your trust, your trust names another to manage those assets:

Questions about Managing Your Trust

We can help you with any questions you have regarding managing your assets for your benefit while you are alive and well. Some examples of questions we can help with are:

• How do I put my savings account into my trust?
• My bank says I have to take my house out of my trust to refinance the loan on it, is this OK?
• How do I make changes to my trust?
• Does it matter that I now have three children instead of one?

We can also assist the person who is managing your trust assets after you can no longer manage them yourself. Some examples of questions we can help with are:

• What do I do after death?
• How do I show my authority under the trust?
• Who has to be notified of what I am doing?
• What kind of records do I need to keep?
• What do I do if someone questions my authority?

Purposes of a Trust

One of the main purposes of having a trust is to simplify and streamline the process of dealing with a person's estate after death. Trusts can do this, however, the process is rarely so simple that consultation with an attorney is unhelpful. Trusts also greatly reduce the legal costs associated with this process. In virtually every case, the attorney's fees associated with trust administration are much less than for administration of an estate without a trust. It is a good idea to consult an estate planning attorney whenever someone close to you passes away. We can advise you what needs to be done and what pitfalls to avoid.

For specific information and legal advice regarding trust administration, please call and schedule your free initial consultation with a Van Sickle & Rowley Estate Planning Attorney.