Guidance For The Duties Of Trust Administration
Being a trustee can be an honor, but it can also be a big responsibility. The grantor likely chose you because you are intelligent, reliable and ethical enough to manage their assets and distribute them to their trust’s beneficiaries when the time comes.
While trustees have a lot to manage, it’s not a job that should keep you up at night. At Gold Law Firm, LLC, we can help you navigate and comply with everything involved in administering a trust. Our goal is to provide you with the knowledge, confidence and guidance you need to be a successful trustee so that you can stay out of conflict and out of court when possible.
Helping Trustees Manage All Types Of Trusts
We know that no family is the same. Each has unique needs and circumstances, often reflected in the type of trust they pick and how they set it up. Our firm focuses much of our practice on estate planning, so we’ve helped trustees administer trusts of all shapes and sizes. We are familiar with many types of trusts, including:
- Revocable living trusts: These trusts can be changed over time. They’re typically used to avoid probate and protect the grantor’s privacy.
- Irrevocable trusts: These trusts cannot be altered or revoked once created. These trusts provide better protection of assets from creditors and lawsuits.
- Testamentary trusts: These trusts are created by the grantor’s will. People typically use these trusts to reduce tax liabilities and ensure that the party who manages their assets does so professionally.
- Special needs trusts: These allow a family member with a physical or mental disability to remain eligible for public assistance programs. This can be one of the most critical components of special needs estate planning.
You shouldn’t have to navigate the subtleties of administering these trusts alone. Reach out to Gold Law Firm, LLC, today by filling out our website contact form.
Work With Lawyers Who Care
Trust administration can be a complicated and delicate matter. That’s why partnering with the right attorneys to help you is so important. We know how easy it can be for some firms to treat trust administration clients like a number. But, we understand how it’s about more than drafting documents. Those documents tell a story about the grantor, their relationship with loved ones and how you can help them continue those relationships long after they’re gone.
At Gold Law Firm, LLC, you are more than just a client – you are family. From the moment we meet you, we’ll get to know your part in the grantor’s story and tailor our legal approach to help you administer their trust. We’ll also work hard to keep your trust administration conflicts out of court when possible, no matter how small or large the grantor’s estate is.
We Look Forward To Speaking With You
If you’re a trustee in New Jersey or Maryland, are more than happy to guide you through the process. Call us at 973-907-5424 to set up a free consultation with an estate planning lawyer today.