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Thursday, June 28, 2018
Trust administration is a process by which assets can be transferred from the deceased to the beneficiaries without having to pass through the court. The trust administration process should be less costly so beneficiaries can receive a more substantial inheritance. It should also be a seamless and private process since there is no need to involve the court, unless a problem arises. Many steps are required to safeguard an effective trust administration in Columbia, MD. It is recommended you work with a trust attorney to help simplify the following steps of a trust administration process.
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Wednesday, April 25, 2018
Most people associate trust administration to a court, but this is not the case. Trust administration is not a court-supervised process. This process involves the transfer of property from a deceased to the beneficiaries listed in their last will. Read more . . .
Wednesday, January 24, 2018
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. Read more . . .
Wednesday, May 24, 2017
Here in my office in Columbia, Howard County, Maryland, I have been asked on occasion about some of issues facing trust administration. Trust administration is necessary for those who wish to avoid probate or who have young children. I’m not going to discuss trust types for this blog entry. I’m going to stick to trust administration solely because it is an issue that often overlooked when clients decide they need to draft a trust. Read more . . .
Tuesday, February 28, 2017
No money manager can guarantee positive returns. In fact, it is not allowed on any financial institution’s publications to say such a thing. That's why you should trust in large mutual funds such as Vanguard and Fidelity to watch over your trust.
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Thursday, December 22, 2016
Trust administration is one of the oldest area of laws in the United States. Whether you live in Columbia, Maryland or Ellicott City, trusts can be used for a wide variety of purposes. For the most part, trusts are divided into two large categories: revocable and irrevocable. Both types of trusts are commonly created by estate planning attorneys and have advantages over wills in that they avoid or minimize the size of the estate for probate (and help to avoid the estate tax). But, how are trusts administered? It's actually done similarly to the way wills are administered. Read more . . .
Monday, October 10, 2016
For many clients, a trust is the optimal choice for administering an estate. Some wealthy clients need trusts known as irrevocable trusts in order to avoid the estate tax or to protect assets from creditors. Others will use trusts to avoid probate. The mechanisms of trust administration are similar to the mechanisms of administering a will, but there are some notable differences that clients need to be aware of. Probably the biggest difficulty in being a trustee is seeing that the property meant to be inside the trust has been correctly retitled.
Wednesday, August 17, 2016
I’ve written on the importance of a trust administration lawyer before, here, and I am going to touch on the process again. Trust administration is becoming more and more of an issue for Americans because of the growing popularity of revocable living trusts. While I believe that revocable living trusts are unnecessary for most people, if a trustee has been chosen to administer a trust, he or she must face a task that can be even more daunting than a probate. That means trustees may need the assistance of an attorney. Trust administration is not overseen by courts in the same way that probate is.
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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