Trust administration is the trustees’ management of trust property. The trustee must follow the terms of the trust document for the benefit of the beneficiaries after the settlor’s death. It is not a court-supervised process.
The ultimate goal is the transfer of property from an individual who has died (the “decedent”) to that individual’s beneficiaries who are identified in his/her revocable living trust.
The decedent is also called the settlor of the trust. It was settlor’s money during the person’s life and is now being transferred after death.
The Basics of Trust Administration After the Settlors Death:
Advantages of Trust Administration Versus Probate:
Duties of the Trustee
Being the trustee is a big deal. You have fiduciary obligations to all of the beneficiaries of the trust to protect the trust assets and to distribute them according to the terms of the trust. The trustee makes many complex financial decisions. At Kile & Kupiszewski we have substantial experience advising trustees and assisting them with trust administration. We have a flexible rate schedule that will accommodate any situation based on the size and complexity of the trust. Give us a call to discuss your situation and how we can help you fulfill your trustee duties.
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