Fouts Law Group, LLC provides assistance with trust administration for trustees and beneficiaries. The trust administration process can determine when and how you inherit, whether an inheritance is protected, and whether a trust administrator can fulfill his legal duties and protect the wishes of the deceased. The process of trust administration is too important not to get professional legal help.
If you are involved in the trust administration process, Fouts Law Group, LLC is ready to assist you. Give us a call at (678) 242-8344 to speak with an experienced Atlanta trust administration lawyer for personalized advice and to get answers to questions you may have including:
- What is trust administration?
- Who needs legal help with trust administration?
- How Can a trust administration lawyer help you?
What is Trust Administration?
Trust administration occurs when a person who has created a trust passes away and his instructions for trust property must be carried out. The outcome of the trust administration process is very important, because this process is necessary to make sure that the trust creator’s wishes are respected and his assets and property are used for his intended purposes.
The process is conducted by a trust administrator. Unlike the probate process, the court isn’t involved in most trust administration proceedings. Instead, the trust administrator acts according to the wishes of the deceased and in accordance with Georgia law to follow the instructions from the trust document.
During this process, the trust administrator will take care of filing tax paperwork and will take care of trust assets. The trust administrator will also take the steps necessary to officially transfer ownership of trust assets to the beneficiaries who the trust creator designated. This may include changing the titles and deeds of property and paying transfer taxes.
At the close of the trust administration process, the beneficiaries of the trust should become the official new legal owners of the assets and all of the legal matters involving the trust should be settled.
Who Needs Legal Help with Trust Administration?
A trust administrator has a fiduciary duty, which is the highest legal duty that a person can owe under the law. As a result, the trust administrator must ensure that he or she understands the trust document, knows how to manage trust assets, and follows formal trust administration requirements. A trust administrator could actually be personally held liable under certain circumstances if trust beneficiaries do not receive the inheritance intended for them because of the trust administrator’s actions. As a result of the tremendous responsibility and potential for loss, a trust administrator should have legal representation.
Beneficiaries of a trust also have a very strong interest in the trust administration process going smoothly. No person who stands to inherit wants a trust to be contested or wants a trustee to act inappropriately during the trust administration process. Beneficiaries need to make certain that a trust administrator doesn’t act to enrich himself at the beneficiary’s expense. Beneficiaries also need to make certain that an inheritance is not reduced in value due to mismanagement of the assets in the trust or delays in the trust administration process.
Because so much is at stake for a trust beneficiary, beneficiaries should be represented by an experienced attorney. An Atlanta trust administration lawyer should be consulted for help by beneficiaries who want assistance overseeing the trust administration process or who need help taking legal action because they believe the trust administrator hasn’t fulfilled his or her role.
Finally, there are situations where a trust is contested. While contesting a trust is more difficult than contesting a will for myriad reasons, you can and should take action if you do not believe a trust is a true reflection of the wishes of the deceased. If you are going to contest a trust, you need to have a legal advocate who can assist you in following the appropriate legal process and making the strongest arguments possible.
How Can a Trust Administration Lawyer Help You?
Fouts Law Group, LLC understands the trust administration process in Georgia and we have helped many people to fulfill their roles and protect their rights during the trust administration process. To find out more about the ways in which an Atlanta trust administration lawyer can assist you, give us a call at (678) 242-8344 or contact us online today to speak with an experienced member of our legal team. We can provide personalized details on the way in which we can help you with your role during the trust administration process, so give us a call now.