Estate Administration Services

TRUST ADMINISTRATION

Estate administration refers to the process of collecting and managing the estate, paying any debts and taxes, and distributing the remaining property to the heirs of the estate.

Family members or loved ones may name family or friends to act as trustee of their trust after their death. As trustee you are responsible for settling and distributing the trust assets in accordance with the terms of the trust document. The trustee is considered a fiduciary and must adhere to a high standard of care. More specifically, the trustee has a duty to manage the trust’s assets in the best interests of the beneficiaries. A Trustee may only be responsible for settling a trust or a trustee may have more ongoing duties depending on the terms and conditions of the trust. Trustees often work with attorneys and other professionals to ensure that they are acting in compliance.