Guidance in Administering a Trust
Virginia Estate Planning and Trust Administration Attorneys
More and more people are using Trusts as a means of passing along a legacy and caring for their family after they have passed away. Being named a trustee is both an honor and a serious responsibility. Trust administration may involve complex duties and confusing legal and reporting requirements.
Upon the death of a loved one, assets such as real estate or retirement accounts may enter into a bypass (family) Trust for the benefit of the surviving spouse. The proper planning and administration of these Trusts are vital in order to avoid potentially serious estate tax consequences.
The Fairfax law firm of Jean Galloway Ball, PLC, offers knowledgeable legal guidance and caring support to individuals in northern Virginia and suburban Maryland in the administration of Trusts. Our experienced attorneys take a comprehensive, fact-based approach to Trust administration advice, including:
- Helping trustees understand what they can and cannot do
- Advising trustees regarding obligation to report to beneficiaries
- Assisting trustees in dealing with troublesome beneficiaries
- Minimizing exposure to liability by ensuring that tax filings are done right the first time
- Educating clients in proper record keeping and reporting procedures
Few people can be expected to understand the full implications of Trust administration duties without the help of an experienced lawyer who can help you translate the terms of the Trust into concrete actions and duties. To schedule an informative consultation, please call our offices in Fairfax at 703-359-9213 or contact us by e-mail today.
Trust Reformation and Administration Disputes
Disagreements can arise over the management of a Trust by the trustee. A trustee may not share information with the beneficiaries or may not be making distributions in accordance with the terms of the Trusts. Circumstances can change and the original purpose of the Trust may no longer be met. These are legal issues that may require court intervention. Contact us today. We can assist you.