Dependable Trust Administration Lawyer in Gilbert
Trusts are valuable legal tools that can be used to help accomplish important goals. A person may establish a trust to protect assets from probate, protect a child with a disability, minimize state or federal taxes, or provide funds to a charitable cause. When creating a trust, the grantor must choose a trustee to protect and distribute assets upon the grantor’s death.
Trustees play a critical administrative role throughout the life of a trust. However, these administrative duties can be complex. At JacksonWhite Law, our expert probate legal team has helped countless clients navigate trust administration with our reliable trust administration services.
Duties and Responsibilities of a Gilbert Trustee
If you have been named the trustee for a loved one, you may be wondering about your duties and responsibilities. A trustee is responsible for managing the assets of a trust and distributing them according to the grantor’s wishes upon their death.
As a trustee, you may have the following responsibilities:
- Understand the intentions of the trust and the grantor’s wishes.
- Maintain proper documents and records for administering the trust.
- Locate trust assets and transfer them into the name of the trustee.
- Become familiar with the terms and provisions of the trust.
- Make discretionary or required distributions to beneficiaries.
- Communicate with beneficiaries about the status of the trust’s assets.
- Distribute assets to beneficiaries when the trust is terminated.
A trustee has the important role of making the financial, legal, and administrative decisions required to protect the assets in a trust. This may involve filing tax returns on behalf of the trust, updating the names on titles and deeds, valuing assets to ensure that the correct taxes are paid, and ensuring that beneficiaries receive their rightful payments as outlined in the trust.
When you are ready to get help with trust administration in Gilbert, call the experienced team at JacksonWhite. Attorney Ryan Hodges stands on his impeccable reputation as one of the most dependable lawyers in the East Valley.
Meet Ryan Hodges, Gilbert Trust Administration Lawyer
Ryan’s knowledge of probate law, experience in the profession, and dedication to his clients’ needs distinguish him as one of the most respected probate attorneys in Gilbert, Arizona. Ryan has over ten years of experience practicing probate law in Arizona, and has assisted hundreds of clients with a variety of probate issues over the last decade.
To learn more about Ryan Hodges, click here.
Get Help with Trust Administration in Gilbert, Arizona
Arizona trustees are faced with significant fiduciary duties, such as preserving trust funds, transferring assets to beneficiaries, and complying with state and federal law. Due to the complexities of trust administration in Gilbert, it’s important to seek the legal assistance of an expert probate attorney.
For more information or to schedule a consultation with a Gilbert trust administration attorney Ryan Hodges, contact JacksonWhite Law at (480)467-4365.