Mesa’s Most Dependable Trust Administration Lawyer
Arizona trust administration is a process that is triggered upon the death of a person who had created a trust. Unlike a will which provides simple instructions on how to distribute property to beneficiaries upon the death of a decedent, a trust is a complex legal arrangement that allows a trustee to hold assets on behalf of beneficiaries.
If your loved one has passed and you need assistance handling their trust, count on the Mesa trust administration attorneys at JacksonWhite to provide comprehensive trust administration services.
The Role of a Trustee in Mesa, AZ
Trustees play a critical role in the management and distribution of a trust. When creating a trust, there are three main parties involved:
- Grantor – This is the person who creates the trust and possesses the legal capacity to transfer property held under the trust.
- Beneficiary – This is the person who benefits from the trust. Trusts can have multiple beneficiaries.
- Trustee – This is the person who manages the trust. A third party may be named a trustee if the beneficiary is underage, is an elderly person that requires personal care, or is someone with a permanent disability that cannot manage their own affairs.
Trustees are tasked with making financial, legal, and administrative decisions to protect assets within the trust. A trustee must ensure that funds and assets are available for the purpose that they were intended for, such as to be given to beneficiaries or charities.
Some essential duties of a trustee include:
1. Taxes
A trustee is responsible for filing tax returns on behalf of the trust. This may require the trustee to contact the Internal Revenue Service (IRS) to obtain a taxpayer identification number.
2. Inventory
The trustee must identify and locate each asset listed in the trust. This process may require the trustee to obtain important documents for certain assets, such as a title or deed.
3. Valuation
In addition to identifying and locating assets, the assets must be valued to ensure that the appropriate taxes are paid.
4. Updating
The trustee becomes the new owner of any assets placed in the trust. This means that deeds for homes or titles for cars should be updated to reflect the trustee’s name.
5. Distribution
Some trusts are set up to allow beneficiaries to receive payments. In this instance, the trustee is responsible for making these payments.
Trust Administration Services in Mesa, AZ
In Arizona, trustees have many fiduciary duties, such as preserving trust funds, transferring assets to beneficiaries, and complying with state and federal laws. Due to the complexity of trust administration, many trustees rely on an experienced trust administration attorney.
Meet Ryan Hodges, Mesa Trust Administration Lawyer
Ryan’s understanding of probate law, experience in the field and commitment to the services to his clients set him apart as one of the top probate attorneys in Mesa, Arizona. Ryan has over 10 years of experiencing practicing probate law in Arizona, and has helped hundreds of clients over the past decade deal with a wide array of probate matters.
To learn more about Ryan Hodges, click here.
Our Mesa Trust Administration Law Office
Our Mesa office is located on the northwest corner of Pepper Place and center street. We are conveniently located one mile from the Mesa Municipal Court, Mesa Arts Center, and Downtown Mesa. Our building is one block north of the LightRail station off of Center Street and Main.
Address: 40 N. Center St, Mesa, AZ 85201
Phone Number: (480)467-4365
We’re Ready To Help You
Mesa trust administration attorney Ryan Hodges is ready to help you with your case. His expertise covers all aspects of trust administration, from reviewing trust documents and assets to identifying beneficiaries, appraising assets, managing distributions, and more.
Clients praise his compassionate approach and dedication to achieving the best outcomes for beneficiaries. Whether you have a simple or complex trust matter, you can count on attorney Ryan Hodges to provide knowledgeable legal counsel and compassionate guidance every step of the way. His integrity, expertise and commitment to clients make him a trustworthy choice for trust administration services.
Call our experienced Mesa trust administration team today at (480)467-4365 and get started with your case.
