Trust Administration Lawyers in Salem
Managing Trusts for Clients in Albany & Keizer
At Johnson & Taylor, our trust administration attorneys take the duties of trustees very seriously and always look after the best interests of our clients. Helping families and individuals make sense of how a trust works can cut down on conflict and ensure that the beneficiaries’ rights and trust assets are protected.
Trusts are often created for minor children, beneficiaries with disabilities, spouses, or charities as part of estate tax planning. When someone who has a trust dies — often the settlor or the person who created the trust — the process of trust administration process can ensure the management of the trust is handled correctly.
If you are the successor trustee and the initial trustee has died or is no longer able to serve, many things must be done to ensure proper trust administration. Working with a trust administration attorney can help you understand the process and make it run more smoothly.
Request your free initial consultation by calling us at (971) 318-5516 today. Se habla español.
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Drunk Driver AccidentTwo couples riding together in a vehicle were struck on the freeway by a drunk driver. All were badly injured. Able to get maximum compensation for all from the at fault driver and from the bar that overserved alcohol, contributing to the driver getting drunk.see more results
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Pedestrian AccidentPedestrian suffered traumatic internal injuries as a result of a trip and fall over a raised portion of sidewalk. Despite disputes over who maintained the sidewalk and the cause of the raised portion between the two adjacent property owners, we were able to secure significant settlements against both homeowner policies, reduce medical liens by tens of thousands of dollars, and put a generous amount of money in client’s pocket.see more results
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Bicycle AccidentTeenager riding bike in or near a construction zone and hit by a vehicle while riding through a crosswalk. Despite an unfavorable witness and the teenager not wearing a helmet, able to work out a great settlement.see more results
What Is a Trustee?
A trustee is the person appointed in a trust whose responsibility is to account for, hold, and administer trust assets as the trust directs. Revocable living trusts usually name the settlor as the first trustee and appoint a successor trustee to take control after the settlor dies or becomes incapable of administering the trust. A trustworthy family member, friend, attorney, bank, or trust company are often named as trustees.
What Are the Duties of a Trustee?
The duties and responsibilities of a trustee include providing legal notices to beneficiaries, controlling estate assets, and following the instructions of the trust document.
A trustee may also:
- Invest and reinvest trust assets
- Open bank accounts
- Pay bills and taxes
- Lease, buy, sell, and repair property owned by the trust
- Hire and provide reasonable compensation to the trustee, attorneys, and accountants who advise or assist in trust administration
A trustee is required to keep current, accurate accounting records of the trust assets and manage them for the benefit of the recipients of the trust. Challenges often arise for trustees when there are conflicts between two or more beneficiaries or the language in the trust document is unclear.
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“I appreciated the time he took with me to explain all the details and to ease my concerns. Also, Myra was very helpful and pleasant. Overall I am very satisfied with their service.”- Dawn S.
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“I recently used Johnson and Taylor, Person Injury and Family Law to assist me in divorce proceedings. Brittany Sumner and her paralegal, Stephanie Kincaid, provided excellent service and expertise. They were quick to respond to questions via email or phone and were able to schedule appointments in a timely manner. I highly recommend this practice and will use them again in the future should I have need for legal representation.”- Natalie R.
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“There was a lot of debt that needed to be sorted out, but they were both confident and positive that things would be straightforward, but were always prepared if things were to become more difficult. They made the process as painless and easy as possible, and were communicative and very patient with me and all of the worries I had. 10 out of 10, I can confidently say that I would happily work with them again if I ever need another divorce”- Margaret C.