Learn What Lies Ahead In Trust Administration

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The death of a loved one can be an emotionally trying time, and can often make the process of Trust Administration even more difficult for the designated Trustee. We at John M. O’Drobinak, P.C., your Estate Planning attorneys in Crown Point, Indiana, understand how great a burden Trust Administration can be on the Trustor’s loved ones. Because of our knowledge and understanding, we strive to handle the complex logistics involved in the process of making your Trustee duties as easy as possible. Fortunately, Trust Administration does not require Probate, which means that you can keep the process private and avoid many potential conflicts that might arise from the semi-public Probate administration process.

Understanding Your Trustee Duties

As a Trustee, you assume the responsibilities that the Trustor left behind. This includes several important tasks, such as:

• Managing the estate of the deceased
• Filing taxes
• Paying off remaining debts
• Keeping beneficiaries informed of the process
• Preparing an inventory of the remaining estate

Many of your Trustee duties will be outlined in the Living Trust itself; however, the process of Trust Administration usually involves more than just these instructions alone. An experienced and knowledgeable Trust Administration lawyer can help you determine all of your responsibilities and help you take action accordingly. We at John M. O’Drobinak, P.C., your Crown Point, Indiana Estate Planning attorneys, can handle the complex legal matters involved to ease the burden of your Trustee duties.

Important Tax Information To Consider

The death of one partner in a married couple is not subject to estate taxes, since ownership of the remaining estate will automatically be transferred to the surviving spouse. In the event that the deceased was a surviving spouse or a single individual, estate tax gets a little more complicated. The federal government has instituted several new regulations in recent years that concern the possibility of having to file a federal estate tax return for the deceased. We at John M. O’Drobinak, P.C. can inform you of these new regulations and explain all the details, which forms need filing and when, so you can properly fulfill your Trustee duties. We, as your Trust Administration lawyers, can help you calculate the taxes owed and will prepare all of the documents necessary in order to file them in a timely and accurate manner.

Learn More About Your Role As A Trustee With Our Free Downloadable Report

At John M. O’Drobinak, P.C., we understand how the process of Trust Administration can seem overwhelming during your time of grief. We strive to make the process as easy as possible by offering a free, comprehensive report on the subject for individuals in need. The report, Trust Administration: Prior Planning Prevents Problems, clarifies everything you’ll need to know to successfully complete your Trustee duties, including:

• Helpful examples of how Trust Administration should be handled in certain scenarios
• A step-by-step description of your responsibilities
• A detailed explanation of tax filing responsibilities
• Pitfalls to be aware of

By educating yourself through the resources our firm provides and by consulting with our experienced Estate Planning attorneys, you can have the tools you need to ensure a quick and hassle-free Trust Administration.

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Trust Administration: Prior Planning
Prevents Problems

This amazing report will walk you through some of the many facets of Trust Administration and help you understand the responsibilities that lie ahead.

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FREE REPORT!

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