Perhaps you have just faced the pain of losing a loved one, and you are beginning to look at all the steps you must take in your new role as a Trustee. If you were named as the Trustee of a decedent’s trust, it can be more than a little stressful going through their things, finding their financials accounts and deeds, paying their debts, closing bank accounts, paying their taxes, and administering the Trust they left behind. There is a lot to handle – not the least of which also includes distributing assets to the beneficiaries in a fair and legal way.
The job of a Trustee is a weighty one, and you must either educate yourself deeply in how to administer a trust, or hire a firm like ours to administer the trust for you. If, for example, you have now lost both of your parents and you have siblings, it will be vital to do everything in your power to be fair and equitable to every beneficiary of your parents’ estate, as well as follow the terms of the Will and Trust—and do your best to prevent friction and misunderstanding among heirs. In fact, you can be held liable for errors and omissions in your administration of the trust, if not careful.
When you hire Beaupre Law, we make your role as Trustee of a Trust as easy and stress-free as possible. We handle all the details, stay on top of the deadlines, and ensure that everything happens in a fair and legal way.
Here’s a quick summary of our service:
We thoroughly review and analyze the Trust terms and provide detailed guidance for the Trustee
Legally install the Trustee, obtain Tax ID number (TIN), and send required notices.
Prepare an inventory of assets and communicate with institutions to establish adjusted cost basis for all accounts.
Prepare transfer of ownership documentation for real property, record and file with authorities.
Assist the Trustee in developing and implementing an asset management plan.
Collaborate with CPAs and financial advisors to administer the Trust efficiently.
Handle distribution of inheritances to beneficiaries and charitable organizations.
Offer family and beneficiary meetings to discuss the status of the trust administration and/or any issues that arise.
Analyze property tax and capital gains tax issues, and assist tax professionals with preparing the decedent’s final tax returns.
Our Trust Attorney in NH provides Trustees with comprehensive trust administration services at reasonable rates.
Complete trust administration services for busy Trustees.
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