Trust Administration Attorney Serving the North Shore of Massachusetts

Simplify trust administration with Jordan & White, estate and trust lawyers in Northeastern Massachusetts. Contact us today.

Trusts are valuable strategic tools for estate planning in Massachusetts. Different types of trusts may help avoid probate, protect assets, secure property from creditors’ claims, or provide for a loved one with special needs.

Trust administration after the grantor’s death can be a complex and time-consuming process. Jordan & White, estate and trust administration lawyers, help successor trustees gain peace of mind with efficient trust management.

How Trusts Work in Massachusetts

Every Massachusetts trust is a legal entity that owns assets. A trust includes three parties: the grantor (or settlor) who creates the trust, the trustee who manages the trust, and the beneficiaries who receive assets or proceeds from the trust.

  • In revocable living trusts, the grantor may act as a trustee during their lifetime and name a successor trustee to take over trust administration after their death. The main function of revocable living trusts is avoiding probate and simplifying estate distribution.
  • Irrevocable trusts require an independent trustee to handle trust management from the moment of the trust’s creation. Irrevocable trusts may protect assets from claims, reduce estate taxes, or supply an additional source of income for disabled individuals while preserving their eligibility for public benefits.

The Duties of a Trustee

The trustee is a fiduciary acting under a legal obligation to obey trust terms and protect the beneficiaries’ best interests throughout trust administration. A successor trustee’s duties typically involve:

  • Notifying the trust beneficiaries and any relevant entities and organizations, like insurance companies and the Social Security Administration, of the grantor’s death
  • Managing the trust assets, including property valuation, a report of trust expenses and gains, and filing taxes
  • Overseeing any trust investments or liquidations of trust property
  • Discharging any valid bills, debts, and fees
  • Distributing trust assets to beneficiaries in compliance with the trust terms

What a Trust Administration Lawyer Does

While successor trustees can decide to handle trust administration without a lawyer, this often causes mistakes that stem from an imperfect understanding of a trustee’s fiduciary duties. Trust asset mismanagement may lead to significant legal complications, disputes, and penalties for the trustee.

Working with an experienced trust administration attorney protects both trustees and beneficiaries. A trust administration lawyer may:

  • Review the trust document and help the trustee understand their legal duties
  • Ensure that trust administration complies with Massachusetts laws
  • File all necessary documents, like tax returns and trust accounts
  • Identify, retitle, and distribute beneficiaries’ assets
  • Resolve trust disputes in cases of contested trusts

Jordan & White: Reputable Trust Administration Lawyers Serving the North Shore of Massachusetts

If you need to act as a successor trustee, working with a reliable trust administration attorney can help you avoid common legal mistakes, smooth the trust administration process, and save time and money. Jordan & White, estate lawyers with over a decade of experience, provide efficient trust administration services. To consult a trust administration attorney serving the North Shore of Massachusetts, call (978) 744-2811 today.