What is trust administration? Trust administration occurs whenever a trust has been created and a trustee has accepted the trusteeship. If the trust is a grantor trust and the only trustees are the grantors of the trust, the trust administration is very easy and no formal requirements need to be followed. However, if any of the trustees are not grantors of the trust, certain formal requirements come into play. They can include the requirements to notify beneficiaries or account for the actions taken by the trustees. Some of the requirements are set forth in the trust instrument and others are set forth by the state legislature. This is especially trust when a grantor passes away., but it can also be trust is while the grantor is living and is no longer a trustee or if the trust is not a grantor trust. Our attorneys will be happy to help you fulfill your Fiduciary Duties whether you are the grantor of the trust, an initial trustee or a successor trustee.
SCHEDULE CONSULTATION
