Trust Administration Lawyer New Braunfels, TX

New Braunfels, TX Trust Administration Lawyer Helps You Fulfill Your Fiduciary Duty

Trust funds sometimes get a negative reputation, thanks to the Hollywood tropes of “trust fund babies,” but in reality, setting up a trust fund for your child, your spouse, or even yourself is a savvy aspect of a solid estate plan. Trusts are either irrevocable, which means that once they’re established, they cannot be changed or revoked (except for very rare situations), and revocable, which means that the grantor, or person who establishes the trust, can revoke the trust or change its terms.

All trusts require a trustee to manage the trust, make financial decisions based on the terms of the trust, and disperse the assets (or otherwise make them available to the beneficiary) based on the terms of the trust. For nearly 30 years, our New Braunfels, TX trust administration lawyer has been advising clients of their obligations as a trustee. As a board-certified estate planning attorney, we can help you create a trust for yourself or someone else, or act as a trustee if you don’t have someone in your life you trust to act in that role. Contact The J.M. Dickerson Law Firm today to schedule your free consultation.

Comprehensive Trust Administration Services

The Texas Estates Code sets strict fiduciary obligations for a trustee. The trustee is expected to represent the trust and act in its best interests, and if the best interests of the trust and the requests of the beneficiary differ, act on behalf of the trust. Trustees must administer the trust according to the trust agreement set by the grantor and Texas and federal laws. Failure to do so can leave the trustee open to legal liability.

Our experienced Texas trust attorneys explain your duties as a trustee and review any documents you must complete on behalf of the trust. We offer a wide range of legal services for trust administration and guide trustees no matter how modest or complex the trust is.

Some of the valuable trust administration services we provide include:

• Communicate with beneficiaries on behalf of the trust
• Create accountings of all fiscal activities enacted on behalf of the trust and submit all required accounting and tax returns
• Provide investment guidance to help grow the trust
• Guide you in the interpretation of the terms of the trust should there be a dispute
• Structure trust transactions
• Complete trust reformation as necessary

Our goal as your estate planning attorneys is to ensure that you remain compliant with the requirements of a trustee.

Our Experienced Trust Attorney Helps You Fulfill The Trust’s Purpose

A trustee has serious obligations to ensure that the trust is properly administered. A misstep on the trustee’s part could defeat the entire purpose of the trust, and the beneficiary will likely suffer. Depending on the type of trust, it could have been created to enhance the lives of a person with special needs, preserve separate property in case of divorce, or protect a family home from a potential lawsuit.

If you have been appointed as a trustee, if you want to establish a trust but cannot be the trustee yourself, or if there is no one you trust to act as the beneficiary, our New Braunfels trust administration lawyer can help you. We use flat-rate pricing for our services. Contact The J.M. Dickerson Law Firm today to learn more in a personal consultation.

Key Steps In Administering A Trust

When tasked with managing a trust, whether you’re the appointed trustee or a family member seeking guidance, understanding the essential steps in trust administration is key—and our board-certified New Braunfels, TX trust administration lawyer is here to help. With decades of experience handling estate matters, The J.M. Dickerson Law Firm is committed to making the trust administration process as smooth as possible for you.

Understanding The Basics Of Trust Administration

Administering a trust can be a detailed and intricate process, but with the right guidance from our respected Texas trust lawyer, it can be manageable. The trustee’s primary responsibility is to fulfill the wishes of the trust creator, also known as the grantor, while adhering to legal requirements. The first step in trust administration involves identifying and valuing the trust’s assets. This includes real estate, investments, and personal property, all of which need to be cataloged and appraised. Our New Braunfels trust administration attorney can help you with this important initial step, verifying that nothing is overlooked.

Notifying Beneficiaries And Filing Necessary Documents

Once the trust assets have been identified, the next crucial step in properly administering a trust is notifying the beneficiaries about their inheritance. This not only confirms that they are aware of their rights, but it also helps avoid potential disputes in the future. Depending on the trust type, our trust management lawyer can help you determine which documents need to be filed with the court and which ones can remain private.

Paying Debts And Taxes

One of the trustee’s most important duties is addressing any outstanding debts or taxes associated with the trust. Before distributing any assets to the beneficiaries, all liabilities need to be settled. This may include paying off any debts of the deceased, such as credit cards, medical bills, or loans. Additionally, if the trust has accrued any taxes, the trustee must verify that these obligations are satisfied. As your trusted estate administration attorney, we will guide you through these often-overlooked steps, preventing complications from arising later on.

Trust Distribution

Once all debts and taxes are cleared, the final step is distributing the trust assets to the beneficiaries according to the terms set out by the grantor. This must be handled with the utmost care, as it requires precision to make sure that all beneficiaries receive their rightful inheritance. Whether it’s cash, property, or other assets, our trust distribution attorney will assist in confirming that everything is done according to the grantor’s wishes.

Let Us Help You with Your Trust Administration Needs

Administering a trust can be a daunting task, but with the help of our experienced and trusted New Braunfels trust administration lawyer, you can rest easy knowing that every step is handled properly. Whether you’re a trustee or a beneficiary, The J.M. Dickerson Law Firm is here to provide the guidance and support you need. If you need professional assistance with trust management or estate administration, reach out to us today for a consultation. Let us take the burden off your shoulders.