Managing a Trust Is A Lot of Work

If a revocable trust has been used as the center of an estate plan, then the assets in the trust won't go through the public probate process. Instead, it will be managed by a successor trustee.

If you take over as the successor trustee of your loved one's revocable trust, there are a lot of tasks that need to be done for the post-mortem trust administration. Many of these tasks involve legal, financial or tax issues.

You may be able to administer the trust on your own. However, if the trust is complex or you have to deal with several beneficiaries, you may need professional assistance. Avrine Law Firm, LLC can help.

What are your responsibilities as a successor trustee?

Serving as a successor trustee comes with a lot of responsibilities. You may have to...

  • Review and to pay bills
  • File federal and state estate tax returns
  • File income tax returns and pay income taxes, both for a deceased and their trust
  • Determine if a disclaimer is appropriate
  • Review business agreements and other investments
  • Submit accounting documents
  • Distribute assets to the beneficiaries

You can rely on Avrine Law Firm for help with trust administration. Call 240-395-1366 now to make an appointment. For emergency or after-hours services, call or text 301-442-2962.

Ms. Avrine was wonderful - she created all of the documents I needed in a short timeframe, because of an upcoming event I was travelling to -- including the will, trust, advanced directive and power of attorney. She was very thorough and thoughtful and put my mind at ease about taking care of my son in the event something were to happen. As a single parent, this is obviously very important! I highly recommend her.

Thorough and Professional Estate Plan Finished on a Tight Time Deadline

Diane K. 2 years ago