Scottsdale’s Premier Trust Administration Lawyer
When a person dies, his or her estate is administered by a chosen fiduciary. If the person created a trust while they were still living, they appointed a trustee to manage their assets after their death. A trustee acts as the legal owner of trust assets and is responsible for handling tax filings for the trust, handling all assets in the trust, and distributing the assets to beneficiaries according to the terms of the trust.
Due to the complexity of trust administration in Arizona, many trustees seek the legal assistance of a reputable Scottsdale trust administration attorney. If your loved one recently passed and you need help managing his or her trust, contact the experienced probate team at JacksonWhite about our comprehensive trust administration services.
Trustees and the Duties of Trust Administration
A trustee is a person who acts as a custodian for assets held within a trust. Trustees are responsible for managing and administering the finances of a trust according to the grantor’s wishes. It is the trustee’s duty to ensure that he or she acts in the best interest of the trust.
To adhere to the trust’s instructions and comply with applicable laws, a trustee may be required to do one or more of the following:
- Act as a fiduciary. Fiduciaries are held to a high standard in terms of protecting assets and their distribution.
- Invest assets when necessary. Some trusts may dictate that trustees should invest assets to help preserve them both now and in the future.
- Understand the terms of the trust. It is important for trustees to fully understand the terms of a trust to ensure its safety.
- Administer the trust. Trustees are required to administer and distribute assets to beneficiaries based on the instructions of the trust.
- Make important decisions. When important matters arise regarding financial, legal, or administrative questions, trustees must make these decisions.
- Manage tax filings. Trustees are tasked with keeping track of records and preparing tax-related forms and filings.
- Communicate with beneficiaries. A trustee will need to effectively communicate with beneficiaries, answer questions, and provide account information or statements.
After the grantor passes away, the trustee must identify, locate, and distribute assets in the trust to fulfill the grantor’s wishes.
Ask About Trust Administration Services in Scottsdale
Trustees in Arizona have critical fiduciary duties, such as preserving trust funds, transferring assets to beneficiaries of the trust, and complying with applicable state and federal laws. Due to the complexity of trust administration, it is important to work alongside an experienced probate legal team. Attorney Ryan Hodges and his team offer the most reputable trust administration services in Scottsdale.
Ryan Hodges, Scottsdale Trust Administration Lawyer
With over a decade of experience practicing probate law, attorney Ryan Hodges has distinguished himself as one of the top probate lawyers in Scottsdale, Arizona. Ryan has assisted hundreds of clients in all types of probate cases.
To learn more about Ryan Hodges, click here.
Our Scottsdale Trust Administration Office
Our office is located on Scottsdale Road, just south of McDonald Drive.
Our Team is Ready to Help You
When it comes to trust administration, Attorney Ryan Hodges stands out as a trusted expert. For over a decade, he has guided clients through complex trust matters with care and precision. Clients faced with appraising assets, distributing funds, or simply reviewing trust documents can put their trust in Ryan Hodges and his team.
Call us today at (480)467-4365 to get started on your Scottsdale trust administration case!