Law Office of Rick Todd Blog

Wednesday, January 24, 2018

What a Trust Administration Lawyer Can Do for You

Trust administration is an integral aspect when it comes to ensuring that the wishes of a deceased person are followed after his/her death and that the interests of his/her beneficiaries are respected and protected. If you have been given the role of a trustee, you have the responsibility of administrating the trust properly. In fact, this gives a legal duty also known as a fiduciary duty, which implies that as a trustee, you have a legal responsibility to act in the best interest of all the beneficiaries. Failure to meet your duty as a trustee has legal ramifications since the beneficiaries may sue you seeking damages for improper administration. This is why the importance of having a trust administration attorney cannot be overstated. Below is a rundown of the things that a trust administration lawyer can do for you.

Assistance in Probate Proceedings

If the only estate planning document available is the will, the estate could be a subject of probate. Probate is a complex legal process for determining the validity of a will, paying debts for the estate, and sharing out the remaining estate assets among beneficiaries. Experienced trust administration lawyers have the necessary expertise to review the available estate planning documents and appear for their clients in both contested and uncontested probate matters.

Legal Guidance in Trust Administration

Trust administration involves both legal and financial aspects. However, most trustees are not conversant with the legal obligations that come with serving as fiduciaries. In such cases, trust administrations lawyers can go a long way in helping the trustees to correctly interpret the terms a trust and carry out the responsibilities of a trustee as required by the law.

Trust Litigation

Although the main objective of creating a trust is to do away with the court's supervision, parties can still go to court to challenge the legality of a trustee's action or even the trust itself. Trust administration lawyers have experience handling both sides of trust litigation. In other words they can appear for beneficiaries or for trustees in cases filed against them.

The Takeaway

Overall, it is apparent that whether you are a trustee or a beneficiary, the importance of trust administration lawyers in estate planning cannot be overemphasized. If you are looking for a trust administration lawyer in Columbia, MD, get in touch with Columbia Real Estate Planning for the most experienced and reliable attorneys.

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The Law Offices of Rick Todd has offices located in Columbia, Chevy Chase, Fairfax, Virginia, and Maryland and serves clients throughout Clarksville, Columbia, Ellicott City, Fulton, Rockville, Bethesda, Potomac, Laurel, Howard County, Montgomery County, and Washington D.C.

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