Trust administration is important for both trustees and beneficiaries, and Fouts Law Group, LLC is here to help. The trust administration process is one that helps determine when and how you will inherit, whether or not your inheritance is protected, and if a person named as trust administrator will be able to fulfill their legal duties. It’s an important process that must be undertaken with the guidance of an experienced attorney.
If you have discovered that you are involved in a trust administration process, Fouts Law Group, LLC can assist you. Call our team at (678) 242-8344 to speak with a Woodstock trust administration attorney. We can explain the process to you and provide you with information, including:
- What trust administration is
- Who needs help with trust administration
- How a trust administration attorney can help you
What Trust Administration Is
Trust administration begins when a person who has created a trust passes away. The decedent left behind instructions for their property that must be followed. The process is a necessary one so that the person’s wishes are not only respected, but carried out. It is also a process that ensures that the person’s property and other assets are used as the person intended.
This process is conducted by a trust administrator. It differs from the probate process because the court generally does not become involved. The trust document outlines the final wishes of the deceased, and those wishes are carried out by a named person.
Through trust administration, the person named will take care of all assets and tax filings. The trust administrator will also ensure that assets and property are passed on to beneficiaries as dictated by the decedent. The trust administrator may be responsible for having deeds transferred and ensuring that property taxes are paid.
When the trust administration process is deemed closed, the beneficiaries of the trust should be the legal owners of any properties left to them. All legal matters surrounding the trust will be considered closed and settled.
Who Needs Help with Trust Administration
A trust administrator has the highest duty under law: fiduciary duty. Before you take on the trust administration process, you must understand the trust documents and your legal duties. You can be held legally liable in certain situations if beneficiaries do not receive the property or assets left to them. It is a large responsibility and one that comes with legal requirements, making it important to seek the guidance of an attorney.
If you are a beneficiary, it is in your interest to ensure the trust administration process is a smooth one. You don’t want to lose what you have inherited due to someone’s misdeeds or inactions. You want to know that the trust administrator is acting with your best interests in mind and not their own. Delays in the administration process could affect your inheritance.
As a beneficiary, you have the right to seek assistance and guidance from an experienced trust administration attorney. A Woodstock trust administration lawyer can assist you in ensuring that you receive what you were gifted and help you take legal action should the need arise.
Contesting a trust is more complicated than contesting a will. If you don’t believe that the wishes of the decedent are accurately reflected in the trust, you have the legal right to contest it. An experienced attorney can assist you with this complex legal process.
How a Trust Administration Attorney Can Help You
Fouts Law Group, LLC understands the complexities of the trust administration process in Georgia. We have helped people fulfill their roles as administrator, and we have assisted beneficiaries in contesting trusts. To learn more about how a Woodstock trust administration attorney can help you, call (678) 242-8344 or reach out to us online.