When an individual wishes to give property, cash or other assets to a loved one they can form a trust. This trust will be controlled by a trustee, and their job is to maintain the integrity of the trust. A trustee cannot benefit from the trust in any way and must act in the best interests of the beneficiaries. Trust administration consists of many steps including: determining a proper trustee, spelling out the wishes of the grantor and notifying the beneficiary of the creation of the trust. A Fremont estate planning attorney can help you with all aspects of trust administration.
When creating a trust, it is crucial that you collaborate with a competent estate planning attorney from The Singh Law Firm. We have a deep understanding of estate law and can help you create a trust that carries the least amount of taxes possible. The trustee you choose is also of the utmost importance as this person will have many responsibilities and should be selected carefully. As a trustee they will have to keep accurate accounts of every bill payment, an updated inventory of any assets being transferred over, a record of taxes paid on the trust and updated documentation for the beneficiary regarding all payments made. We can help you from start to finish and even help trustee manage the accounts of the trust.
Our law firm can consult with you about the different trust options you may have available. We can help both the beneficiary and the trustee organize the assets being placed in the trust to reduce the potential of legal problems or challenges and future tax complications. Our law firm will draft a trust that fits the needs of every party involved and help maintain it for years to come. We provide personal legal services to our clients and help them create an estate plan as well as providing trust administration services.