Losing a loved one is hard enough without the added stress of having to make critical financial decisions while grieving. Given the time, expense and frustration involved in probating an estate, many people feel overwhelmed by the prospect of dealing with the process alone. Fortunately, you don’t have to handle it by yourself. We can guide you through the process compassionately and efficiently, so you can focus on what is most important—coming to terms with your loss and moving forward with your life.
Scottsdale Trust Administration Lawyer
In order for a trust to accomplish its goals and carry out the trustmaker’s wishes, it must be properly administered. The steps involved in administering a trust include filings with state taxing authorities, the Internal Revenue Service and the court, as well as notifying applicable individuals in accordance with the law. Other duties include opening bank accounts, settling claims by creditors, paying the decedent’s final expenses and arranging for the sale of assets—all while making sure that proper accounting practices are followed and accurate information is provided to trust beneficiaries.
Trustees are subject to serious legal and financial consequences for improperly administering a trust. If you have been asked to serve as trustee, you should not take the decision to accept this responsibility lightly. If you do indeed decide to serve as trustee, we can explain the risks involved and guide you through every phase of the process. We can also work closely with any of your existing personal representatives and advisors throughout the administration process. If you decide you would rather not serve as trustee, we can help you select the appropriate representative.
If you are faced with probating an estate or administering a trust, contact us today to discuss your particular situation. You are not alone during this difficult time.