Estate and Trust Administration
At Young & Maslowski, LLP, we are here to simplify and take the stress out of your estate or trust
administration. The administration of an estate or trust can be a confusing and overwhelming process.
Without proper administration, the administration of a trust or estate can lead to unnecessary expenses,
costly disputes, and other financial issues.
At Young & Maslowski, LLP, we offer comprehensive estate and trust administration services to assist you
with the complicated and numerous responsibilities of administering an estate or a trust. We offer flat rate
and hourly rate arrangements for our estate and trust administration services.
Contact us today to discuss.
It is a very difficult time for family and friends when a loved one dies. It can also be stressful
performing the estate administration of a loved one. Some families benefit from a loved one who had
an estate plan in place prior to their death, making estate administration easier for the living relatives.
Others have to deal with the death of a loved one who died without having a plan in place. However,
even if there was a Will or Trust in place, the administration of an estate can be very daunting for
those unfamiliar with the process.
A trust is essentially a contractual relationship in which assets are given from the Grantor (the person
creating the trust) to a Trustee (typically the same person creating the trust while they are still living).
The Grantor appoints the Trustee to administer the trust. The Grantor also names a successor Trustee
to act should the initial Trustee become unable or unwilling to serve as Trustee. After the initial Trustee
dies, the successor Trustee is responsible for administering the trust and has the responsibility of
distributing the assets to the beneficiaries named in the trust. The successor Trustee has the
obligation to protect the assets of the trust as well as the interests of the beneficiaries named.
Along with distributing the assets of the trust, some other duties of the successor Trustees include:
A Trustee can be held liable for loss or damages to the estate if they exceed their Trustee powers. Many
strategies and tools to help minimize taxes are often overlooked by Trustees who are less familiar with the
Trust Administration process.
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and Gift Tax