A trust is an essential part of estate planning, and can help you take the first steps toward building generational wealth. A trust also protects assets from seizure in a lawsuit. It can bypass probate, so that the person you wish to benefit from the trust can do so immediately. It requires oversight and management by a trust administrator, called the trustee. This position carries significant fiduciary responsibilities, and has specific legal reporting requirements. If you need assistance with trust administration, or if you have a concern about the actions of your trust, contact Gudeman & Associates, P.C. Our Troy, MI trust administration lawyer can resolve the matter and assist in many other ways.
Trust Administration Lawyer Troy, MI
There are two types of trusts, a revocable one that the grantor (the person who creates and funds it) can administer and maintain control of, and an irrevocable one, in which the grantor no longer has control over the trust (but may still financially benefit from it). Both types of trusts require a trust administrator, or trustee, someone who ensure that the assets in the trust are dispersed according to the trust’s instructions, and makes financial decisions on behalf of the trust, such as investments or maintaining property owned by the trust.
Our Troy trust administration lawyer can act as trustee on your behalf if you cannot perform that role with your trust, or do not want to. We well understand the legal and fiduciary duties of a trustee, and you can be assured we carry those out precisely.
We can also address your concerns about the actions of a trustee, whether you are the grantor who has doubts about the trustee’s abilities to fulfill that role, or the beneficiary of the trust who disputes decisions the trustee makes, including dispersing funds to you per the trust’s instructions. We review the trustee’s actions and compare them with the terms of the trust, then advise you of your options, including initiating legal action, such as a bad-faith lawsuit. Our attorneys guide you through the process, draft and file all the necessary motions to achieve your goals, and advocate for your interests in court and in mediation or negotiations.
Why Our Experience Matters for Proper Trust Administration
From pursuing litigation against a trustee who isn’t fulfilling their fiduciary responsibilities to acting as a trustee on behalf of your trust or trusts, our firm is here for you. We respect the terms of the trust, properly adhere to them, and complete all required reporting. You can reap the benefits of the trust, without worrying about the responsibilities.
- 100+ years of combined legal experience handling complex business and financial matters
- Full-service boutique firm offering guidance in estate planning, business law, taxation, real estate, and bankruptcy
- Personalized legal advice focused on achieving your individual and financial goals
- Virtual consultations and secure document sharing available for long-distance or remote clients
Do you have a trust admiration concern or need our lawyers can help you with? Call Gudeman & Associates, P.C. for a personalized consultation.
