Managing a Trust Involves Many Legal, Financial, and Tax Issues
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 many tasks that must be completed for the post-mortem trust administration. These tasks often involve legal, financial, and tax issues.
If the Revocable Trust is very simple, you may be able to administer it on your own. If the Trust is complex or you have to deal with several beneficiaries-you need professional assistance. The Avrine Law Firm, LLC is highly qualified to provide the assistance you need.
As a successor trustee you may need to:
- Review and pay bills
- File Federal and state estate tax returns
- File income tax returns and pay income taxes, both for the deceased and their trust
- Determine if a disclaimer is appropriate
- Review business agreements and other investments
- Submit accounting documents
- Distribute assets to the beneficiaries
Please call 240-395-1366 now to make your appointment. For emergency or after-hours services, please call or text 301-442-2962.
Our Clients Say...
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 was to happen. As a single parent, this is obviously very important! I highly recommend her.