You’ve been entrusted as someone’s Trustee. Now what?
Keeping the Beneficiaries Informed
As Trustee, one of your primary obligations is to keep the beneficiaries informed. There are certain notices and information that must be sent to beneficiaries at specific times. We’ll help you meet those requirements.
We will help you gather and value all assets in the Trust. Establishing the starting point is critical for not only the beneficiaries but also any creditors.
Yes, Trusts are subject to income tax. We’ll help you determine if that’s an issue in your case. We will also advise you on any Estate Tax issues that could be present.
Preparing an Accounting
Every Trust beneficiary is entitled to know what assets were in the trust and how his share was calculated. We’ll help you provide that information in an understandable way.
Our firm will make sure all Trust assets are properly distributed and retitled as necessary, making sure the Trustee has satisfied his or her legal obligations.