Trust Administration
When you are considering a trust for yourself, estate, or family member, or you wish to serve as a Trustee with fiduciary responsibilities, seeking experienced legal advice is essential not only for proper administration, but for your security and peace of mind. Family trustees often lack the time and resources to handle this responsibility without legal support.
At Moschella & Winston, LLP, we have performed trust administration and provided trust fiduciary management services for over 30 years. We can assist you in:
- Choosing the best trust tool for your unique situation
- Drafting the trust
- Preparing your trust for ease of administration
- Ensuring proper documentation, funding and accounting
- Managing the trust administration process
- Fulfilling your trustee responsibilities.
Our attorneys are experienced in advising Trustees and beneficiaries on trusts created by others and frequently serve as a professional Trustee in cooperation with family Trustees and as sole or successor Trustee. Trustees have a significant responsibility to adhere to the law, protect beneficiaries’ best interests, and perform fiduciary duties faithfully and prudently, especially with the investment of trust monies. Without proper legal guidance, this burden can be both overwhelming and present a significant exposure to liability.
Trustee fiduciary duties include:
- Determining beneficiary needs
- Investing trust assets
- Considering public benefits eligibility
- Making proper distributions
- Filing tax returns
- Enforcing trust provisions according to fiduciary law
Trustees have a significant responsibility to adhere to the law, protect beneficiaries’ best interests, and perform fiduciary duties faithfully and prudently, especially with the investment of trust monies. Without proper legal guidance, this burden can be both overwhelming and present a significant exposure to liability. Our lawyers have the expertise to perform or guide you safely through trust administration, easing your burden and liability.
Once the trust is created, we can continue to provide the support that is needed for proper maintenance and management by serving as a professional Trustee , co-Trustee with family members, Trust Protector, or administering the trust on behalf of family or other Trustees. We offer continuing benefit eligibility support, tax returns, accountings and periodic redetermination reports to agencies and courts. If needed, we have a Certified Public Accountant available who is experienced in trust administration to prepare your required tax filings.
Contact us to schedule an initial consultation.