Trust Administration: The Importance Of Legal Guidance
Trusts are complicated legal entities. As a trustee, you are in a unique position to manage the trust on behalf of its creator for the benefit of others.
Yet along with this position comes significant responsibilities. Trustees are fiduciaries, which means you will be held to high legal standards. You must not only interpret and comply with the trust terms — a formidable task in and of itself — but also fulfill your legal duties with care, diligence and discretion.
When We Set Up Your Trust, We Protect Your Values
“The way you set up and administer your trust speaks to your values. We work with you through every detail, often finding ways to make sure to avoid possible litigation that can happen by naming an inappropriate trustee.”
Missteps can lead to significant consequences. Most importantly, you could be held personally liable for financial damages that result from failure to uphold your responsibilities.
How We Can Help
With so much at stake, it’s important to get legal help sooner rather than later. ContactVoelkl Law PC, in Williamsville for experienced guidance. Our lawyers have decades of combined experienced navigating the complexities of trust and estate matters in New York. We know what can go wrong — and we know how to steer clear of pitfalls.
We can assist you with all aspects trust administration, including:
- Keeping proper records and accountings
- Filing trust taxes
- Making trust distributions
- Defending claims against the trust
- Managing trust property in a prudent manner
- Maintaining fairness and impartiality toward beneficiaries
- Avoiding conflicts of interest
If any trust-related disputes arise — for example, with beneficiaries or creditors — we can protect your interests in litigation. Our lawyers are effective courtroom advocates with strong trial backgrounds.