TRUST ADMINISTRATION
Whether you only need a quick consult about a single trust issue or you need us to help with an extensive array of responsibilities for ongoing administration assistance, we work with you to properly handle your Trust Administration duties. Our legal support gives you the confidence you need to take care of any trust business.
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Trust Administration
We help Trust Administrators across North Carolina uphold their fiduciary duty for the benefit of beneficiaries. As a Trust Administrator, you are responsible for a legal framework that holds assets for the benefit of a beneficiary.
You may need help to manage a complex trust arrangement. When paying taxes, investing decisions, distribution decisions, and following the guidelines of the trust are too complicated, we can help.
How We Help With Trust Administration
Trust Administration refers to the management of assets within the trust. The duties vary according to the type of trust. Generally, the trustee has many duties and responsibilities. We work with you to:
- Distribute trust assets according to the guidelines of the trust
- Handle administrative procedures such as paying taxes
- Protect the assets of the trust
- Follow the directions of the trust according to the trust agreement documents
- Make prudent investments when necessary with professional help or with care, skill, and caution
- Consider the fair treatment of beneficiaries when making difficult distribution decisions
- Act only for the benefit of the beneficiaries, not for trustee profit
We Make Trust Administration Easy
When you fail to act wisely and lose trust assets as the trustee, this is called a breach of duty.
You can be held liable for financial mistakes made while filing trust taxes, distributing assets, investing, or handling funds as a trustee. Trustees can face civil liability for losses incurred due to lack of care. A trustee may even face criminal charges for fraud or negligence.
Working with our experienced legal team at Hopler, Wilms, and Hanna ensures that your actions will not cause you to face liability issues. We check over each document and carefully work through each decision you make on behalf of the trust. We help you make sound and wise decisions as you administer a trust.
Our high standards ensure that you fulfill your duties as trustee in the proper management of the trust. Contact us today and find out how we can help you in your Trust Administration duties.
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