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Trust Administration Law Firm

A trust administration law firm helps trustees handle the complex process of distributing a loved one’s estate assets. Trust administration is a vital part of comprehensive estate planning and can help to protect beneficiaries from predators, minimize taxes, and ensure that the deceased person’s wishes are carried out. However, many lawyers make trust administration appear simple at the time their clients sign a trust document without discussing with them what will happen after their death.

Being the trustee of a trust is a significant responsibility that requires a great deal of work and diligence. It is important to be guided by experienced counsel in order to carry out all legal processes correctly, avoid missteps that could lead to costly consequences, and reduce the risk of lawsuits brought against the trustee for breach of fiduciary duty.

Our firm provides trusted guidance to trustees who must manage and distribute assets, pay valid debts, and communicate with beneficiaries while adhering to the strict fiduciary obligations imposed by New York state law and federal tax laws. A complete understanding of the terms and conditions in the trust document is essential in resolving disputes, and our attorneys are skilled at de-escalating emotional arguments between trustees and beneficiaries.

We also assist trustees in resolving property problems that may arise during the process. This can include the need to obtain a court-ordered sale of real estate, dealing with joint ownership issues in a piece of property, and resolving mortgage and judgment liens on trust property. We have a strong track record of success in resolving property problems quickly and efficiently.

Trustees must also manage and invest trust assets prudently, ensuring that the investments make good financial sense and are consistent with the purpose of the trust document. Our attorneys can provide assistance in making prudent investment decisions and can help with the preparation of tax returns.

In addition, the trustee must also keep detailed records of all income received and expenses paid. Keeping accurate records and ensuring that they are always up-to-date is an important task for any trustee. In addition, the trustee must communicate with beneficiaries and maintain regular contact to keep them informed about trust activities, financial performance, and distributions.

Despite careful planning, it is not uncommon for legal disputes to arise during the process of settling an estate and distributing trust assets. As an experienced estate planner and trust administrator, Michael Daiello is well-equipped to resolve these disputes and can protect the trustee’s reputation in the eyes of the beneficiaries.

When you have questions about a trust or are in need of estate planning services, please contact us for a free consultation. We serve individuals and families throughout Las Vegas and Southern Nevada. During the consultation, we will assess your situation and explain your options for moving forward. We will answer any questions you may have and provide you with a fee quote. Please call or fill out the online form to schedule a meeting.