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Trust Administration

In addition to assisting clients with establishing and managing their estate plans, Evans & Davis assists families with administering trusts after the death of a loved one. Every trust administration is unique and we adapt our representation to the level of assistance needed by each successor trustee or family. Depending on the needs of our client, our work may include:

  1. Consultation with Trustee(s) regarding immediate actions needed to secure property and safeguard the trust assets;
  2. Obtaining tax identification number(s);
  3. Preparing Affidavit(s) of Successor Trustee;
  4. Review of trust assets regarding beneficiary designations and ownership status;
  5. Counsel with Trustee(s) regarding fiduciary duties;
  6. Communication with beneficiaries;
  7. Counsel with Trustee(s) regarding disclaimers by beneficiaries;
  8. Counsel with Trustee(s) regarding distributions of tangible personal property;
  9. Coordinating the delivery of specific distributions;
  10. Creating documentation of income tax basis and estate value;
  11. Allocating assets to marital and credit shelter trusts in a way that maximizes estate tax advantages and family objectives;
  12. Coordinating with CPA’s regarding necessary tax filings;
  13. Coordinating with investment advisors and financial institutions;
  14. Counsel and assistance regarding preferred disbursement or roll-over of IRA funds;
  15. Preparation of appropriate documents to memorialize distribution, provide disclosures and accountings to beneficiaries, and indemnify the Trustee;
  16. Preparation and filing of deeds for the transfer of real estate and mineral interests;
  17. Notification to oil and gas companies regarding new owners;
  18. Establishing beneficiary sub-trusts, special needs trusts, or common pot trusts for continued administration;
  19. Counsel with Trustees regarding distribution standards or acceptable expenditures for supplemental needs trusts or continuing sub-trusts; and
  20. Coordination with out of state counsel where necessary for transfer of real estate.

Administration of a trust is generally easier and more convenient than going through the probate process. However, even with a trust, administration includes many details, including taking advantage of tax benefits and maintaining information to present to beneficiaries. Professional help from the attorneys of Evans & Davis can expedite the trust administration process, insure that all tax benefits are utilized, and minimize potential liability for the Trustee(s).