The importance of trust administration in estate planning

Managing the expectations of beneficiaries is one of the most important aspects of trust administration. Many people having heard that living trusts avoid probate, assume that a trust administration is simple, and that the trust property somehow passes to them automatically, because of this many people are disappointed to learn the process can take months, which is why it is important to address unrealistic expectations early in the process. Trust distribution can occur in several stages. It’s important to obtain appraisals and project tax liabilities with accuracy to be sure all debts are paid. This needs to happen before the beneficiaries receive funds, says Anné Desormier-Cartwright of Elder and Estate Planning Attorneys PA. If a beneficiary challenges a trustees actions, or can test the validity of the trust, the trustee may have to withhold distributions until the dispute is resolved. Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service, but large enough to handle all of your estate and planning needs.