Reliable Legal Support For The Trust Administration Process

Last updated on March 27, 2024

A solidly written trust is only half the job in this estate planning phase. When the time comes, an experienced estate attorney should be on hand to smoothly administer it to ensure that a bank or trustee complies with all legal obligations and that beneficiaries receive what they deserve.

Rockville and Columbia trust administration lawyers at Simpson Law, PA, are experienced estate and trust lawyers with the legal and financial knowledge to ensure your trust is in capable hands.

Our lead attorney, Suzanne B. Simpson, works closely with estate executors, trustees and experts such as certified public accountants to prepare and file the necessary tax returns for trusts and to shelter money for survivors. Our law firm’s founder has provided comprehensive, compassionate and convenient legal services for clients in Maryland, Virginia and Washington, D.C., since 1991.

Attorney Simpson and our Columbia estate administration legal team assist trustees of a revocable living trust or irrevocable trust throughout its existence. We attend to paying bills, filing tax returns, and appropriate distribution of assets and property. We can serve as or assist a trustee, coordinating efforts and performing all necessary legal functions.

What’s Involved In The Trust Administration Process?

Most trusts in the DMV area are administered the same way. Here is a breakdown of the typical process:

  1. Gather and look over trust documents: Once you obtain confirmation of the grantor’s passing, you can get the documents that lay out the grantor’s wishes, demonstrate who the beneficiaries of the trust are, and provide papers governing what the trustee can and cannot do with the trust.
  2. Obtain trust assets: After determining which assets go to whom and gaining a thorough understanding of the trust rules, you can obtain, review and decide which assets in the trust will go to which beneficiaries. Ensuring that every asset in the trust is accounted for within the trust document is crucial.
  3. Communicate with beneficiaries: Once you know which assets are going to which beneficiaries, you can notify them about them as you prepare to transfer them.

There may be some instances where taxes or debts are attached to the trust. If that’s the case, addressing these matters is crucial before distributing trust assets. We can help you with the administration process. Depending on your circumstances, our lawyers can be the trustee if necessary. We are well-equipped to address any questions or concerns about the process and can help you swiftly maneuver challenges as they arise.

Quality Trust Administration For Marylanders Since 2003

At Simpson Law, PA, we can carry out the administration of a broad range of trusts, including:

  • Marital trusts
  • Bypass trusts for tax avoidance
  • Trusts for tax planning
  • Life insurance trusts
  • Maryland Qualified Terminable Interest Trusts
  • Living trusts
  • Dynasty trusts
  • Grantor retained trusts
  • Charitable remainder trusts and charitable annuities
  • Pour-over wills
  • Gift trusts
  • Credit shelter trusts
  • Education trusts
  • Special/Supplemental Needs Trusts for children and the elderly
  • Generation-skipping trusts
  • Split-interest trusts
  • Pet trusts

During her more than 20 years of faithful service to trust administration clients in Maryland, Virginia and Washington, D.C., our lead  Attorney Simpson, has been asked to serve as trustee, personal representative of estates, guardian for those with special needs and holder of powers of attorney. She listens carefully to your wishes and translates what she learns into swift, decisive action that can bring you peace of mind.

Have Additional Questions? Reach Out Today.

Contact us at Simpson Law, PA, to arrange your initial consultation at our Spencerville law office. Call 301-658-7951 or send an email.