Your Family is Our Top Priority

Trusts can be a valuable estate planning tool and there are many benefits for their use, such as:

  • Avoiding probate
  • Preventing nursing home poverty
  • Minimizing federal estate tax
  • Protecting your children’s inheritance

After the death of the person(s) that established a trust, it is essential for the successor trustee, or the person that is named to handle the trust, to assure that it is settled. The trust administration process is often complex and confusing and can seem overwhelming at times. Many individuals who have been named as successor trustee, have had little or no experience in executing the appropriate steps necessary to administer a trust. In addition, when one is grieving the loss of a loved one, it can be a burdensome undertaking.

Even when the court-supervised probate process is avoided by the family, sometimes it is necessary or desirable to retain the services of a law firm familiar with trust administration in order to make it easier for the trustee and the family to settle the trust. At Thomas-Walters, the estate planning attorneys prepare the necessary documents to simplify the process for them and to give them peace of mind throughout the administration.

There are many steps that must be followed to ensure proper administration of the trust and to protect the successor trustee, when one or both settlors die. The Thomas-Walters estate planning attorneys and staff have years of experience settling trusts and eliminating the often times, consuming burden for the successor trustee.

Working with a Thomas-Walters expert will:

  • Affirm that all necessary estate and/or inheritance tax returns are filed and all taxes are paid.
  • Assure that all valid debts are paid.
  • Guarantee that all real property transfers are enforced. There are many steps involved to vest title in the successor trustee so the property can be managed, sold or distributed as part of the trust administration.
  • Ensure compliance with various accounting requirements when beneficiaries intend to continue owning the real estate in the trust.
  • Identify and collect all of the other trust assets (i.e. bank accounts and investment accounts) and prepare the documents to transfer titles.
  • Provide the peace of mind knowing that a considerable task will be handled for them.