Connecticut Trust Administration Attorney
Trust Administration Lawyer serving Greenwich, Stamford, Darien, Westport,
Fairfield, Trumbull, New Haven and Milford
trust is created when an individual drafts a trust document that puts the care
of their assets in the hands of another called the trustee to manage for
the benefit of beneficiaries (often his or her spouse or children). The
trustee manages the assets in accordance with the instructions in the
trust document. The process the trustee becomes involved in when following
the instructions is called trust administration. This can be complicated
and requires legal advice to properly carry out the terms of the trust
in accordance with the law. You are urged to consult a trust administration
lawyer in Connecticut for guidance.
Duties of a Trustee in Trust Administration
Follow the terms of the Trust: The trustee must read and understand the trust document to know what the
creator of the trust wanted to have done with the trust. The trustee must
follow the dictates outlined in the document. This may involve making
regular payments to the beneficiaries for their education, medical and
living expenses as set forth in the trust.
Act in the best interests of the Trust: He or she must put the interests of the trust above their own. He or she
may not make loans themselves from the trust or use it for their own benefit.
They must avoid conflicts of interest. It could very well be inappropriate
for to hire themselves or their families to perform other services for
the trust, as this could create legal problems in the future. Any such
decisions should be discussed with a
Connecticut trust administration lawyer
Safeguard the Trust Assets:
The trustee is expected to invest the assets of the trust to protect the
value of the trust.
Pay taxes and other expenses: Taxes on trust income, bond expenses and other bills must be paid.
Trust Administration Lawyer in Fairfield County & New Haven County
At Massih Law, LLC, I serve the residents throughout Fairfield County and
New Haven County including, but not limited to, Greenwich, Stamford, Darien,
Westport, Fairfield, Trumbull, New Haven and Milford. I advise trustees
in the interpretation and proper administration of trusts. I also work
with clients' tax professionals in preparation of taxes, and I draft
any legal documents that may be required. I defend the administrator should
the trust be sued, and I am also available to consult beneficiaries concerned
about the way a trust is being administered.
Contact a Connecticut trust administration attorney
to discuss trust administration.