Trust Administration Lawyers in Raleigh Aiding You Through the Trust Administration Process

As a trustee, you are responsible for many aspects of a trust following the death of the grantor. On top of the stressful to-do’s on your large list of responsibilities, doing your duties to the best of your ability is critical to ensuring the fair treatment of your trust’s beneficiaries. Dealing with a large estate and a large number of beneficiaries can be difficult and time-consuming, especially if you do not know where to begin. Trust administration on your end is key to providing closure to the beneficiaries of the estate and the trust you are serving. However, juggling all the responsibilities and potential hiccups that can arise can be too much for you to handle. That is why you should contact our team of experienced trust administration lawyers to assist you in the day-to-day handling of your trust and clarify your duties, responsibilities, and answer any pressing questions you may have. Our law firm handles all aspects of estate planning and estate administration, so be sure to use our services to take the weight off your shoulders.

What is Trust Administration?

In the simplest terms, trust administration occurs following the death of the grantor or main trustee of a trust. A successor trustee is designated for this situation to ensure that anything the trust dictates is carried out by the trustee. Typically, this involves the distribution of assets and property to the beneficiaries of the trust. On top of that, trustees may be responsible for settling up any debts by paying off creditors, paying off any unpaid taxes the estate owes, and more. For the average person, this can be overwhelming. Be sure to seek the help of an experienced trust administration attorney to ensure your trust administration process goes smoothly.

Is Trust Administration Easy?

Trust administration can be rather complex without the proper help. If you are unfamiliar with legal documents, paying taxes, settling debts, and working with beneficiaries towards a swift distribution of assets, trust administration can actually be daunting. What can make matters worse is that failure to do your fiduciary duties as a trustee can result in you being liable for not administering the trust properly, which can put you into legal trouble if things get out of hand. Reach out to a trust administration lawyer as soon as you can to ensure you administer your trust accurately and effectively and protect yourself from potential legal action taken against you by beneficiaries or the estate.

What Does a Lawyer Do to Help with Trust Administration?

A tried and tested trust administration lawyer from Raleigh can help you navigate your duties from A-Z and address any pressing issues as they pop up. One of the most common issues that arise during trust administration is disputes among beneficiaries. Because a trust can involve beneficiaries that range from family members to friends to colleagues, these personalities sometimes do not mesh well with one another, leading to conflicts that can put a strain on the trust administration process. Having a lawyer by your side throughout the process can put an end to those conflicts before they boil over to not only ensure a more efficient trust administration process but protect you from breaching your fiduciary duties.

Is Hiring a Trust Administration Attorney Worth the Cost?

Many people steer clear of hiring lawyers because of their cost. However, when it comes to trust administration and protecting yourself from unprecedented amounts of stress and even potential legal action, it may be worth hiring a trust administration lawyer. It is important to note that not every lawyer has the skills needed to tackle trust administration. Before hiring one, make sure you do your due diligence and choose the right Raleigh trust administration lawyer for you. Our law firm has years of experience taking care of trustees as they embark on their trust administration journeys. With knowledge of trusts, estates, and everything in between, our law firm can provide you with the legal know-how and advice you need to confidently tackle your trust administration duties. Give Thomas-Walters, PLLC a call at (919) 424-8277 and schedule a free consultation today.