A trust is a legal document that allows you to distribute your property, whether before, after, or at your death. (Contrast this to a will, which can only distribute your assets after death, not before.) After your passing, your trust will then undergo a process of trust administration. In this process, all the assets held in that trust will be transferred to the designated beneficiaries–for example, property titles will be transferred to the new trustees, and things like bank accounts will also be transferred to the new trustees’ names. This process, like many things in legal practice, can get complicated, but fortunately our team at The Law Offices of Kayce C. Staehle is here to make it easier. With over 19 years of experience in estate law, you can count on us to help ensure that the trust administration process goes as smoothly as possible.
After the assets in a trust have been transferred, the new trustee is then required to pay off any debts and satisfy any liabilities from the settlor (i.e. the assets’ original owner). This also includes paying any taxes on the property. As you can probably imagine, sorting out this paperwork and crunching the necessary numbers can be complicated, so it’s always best to turn to a lawyer with experience in trust administration to ensure that everything is carried out correctly.
Our team has both the thorough knowledge and keen attentiveness to detail to make sure that every step of the trust administration process is done properly.
At The Law Offices of Kayce C. Staehle, we can assist with trust administration for those in Mooresville, Huntersville, Denver, Davidson, Concord, and Charlotte, North Carolina.
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Planning your estate is essential no matter how old you are or your situation in life. If you have yet to estate plan, let our firm help you with all aspects of the process.Book a Free Call Now!