Flint Trust Administration Attorney
Estate Planning Firm in Flint, MI
If you plan to leave any type of money, property, or assets to family or other individuals after you pass away, it is important that you draft a trust. Any trust that you put in place must have a trustee named, who will be in charge of the administration. Their role as a trustee involves a number of different responsibilities.
You must be able to rely on the individual who you name, know that they will follow your instructions and that they will be able to comprehend the documents you draft.
A skilled Flint trust administration attorney can assist you with choosing and naming a trustee for your estate plan.
A few of the responsibilities that a trustee may have include:
- Taxes: Filing the required annual tax return forms and paying all associated taxes for the trust and account.
- Accounting: Ensuring that all of the expenditures, income, and distributions are accounted for properly.
- Distributions: Making decisions about when distributions to the beneficiaries are made and for how much.
- Delegations: Deciding what duties to delegate and who to, as well as overseeing the responsibilities.
- Maintaining the terms: Upholding all of the terms which are listed by the grantor in the trust.
- Investments: Establishing an investment strategy and choosing worthwhile investments for a portion of the money.
- Fiduciary responsibility: Handling and monitoring all financial transactions of the money which are listed in the trust.
Skilled Approach to Trust Administration in Flint
If you have recently lost a family member or loved one who named you as the administrator or their trust, it is advisable that you speak with a Flint estate planning lawyer as soon as possible. You may be confused about your responsibilities and we can provide you with the answers you are looking for.
To set up a complimentary consultation, call us now at (810) 292-3115.
Over 40 Years of Experience
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