When the grantor of a trust dies, the trustee assumes the responsibility for the administration of the trust. This may involve distribution of the assets of the trust or, depending on the terms of the trust, it may involve management of the trust for some period of time and the payment of income of the trust to a beneficiary, as would be the case where minor children are the beneficiaries of the trust.
Our Experience Will Help With Your Trust Administration
Many people choose to use a trust as opposed to transferring assets by probate for the generally lower expense and the privacy of a trust. Because trust administration is not supervised by the court, it avoids the disclosure of your personal and financial information that is created during a probate of an estate in Nevada.
When you set up a trust, you want to carefully choose your trustee, they have a fiduciary duty to the beneficiaries. Morris Estate Planning Attorneys has a great deal of experience with estate planning and with estate and trust administration. We can help you with trust establishment, funding subtrusts and trust settlements, and we can assist trustees with advice and counsel during the trust administration process.
Are You A Beneficiary With Questions Concerning A Trust?
Because of the lack of court supervision, if you have concerns that a trust is being mishandled by a trustee, you may have to hire a lawyer and potentially litigate the issue. We can review the trust, advise you of your rights and legal options should the concerns be valid, and work with your estate litigation attorney.