Escobar & Associates
813.875.5100
Speak to an attorney 24 hours a day free consultations

The complication of trust administration and avoiding problems

Trust administration can be a complicated process for both the administrator and the family left behind. Those who wish to leave a trust, estate or inheritance for children and grandchildren likely have concerns regarding how to ensure their wishes are carried out properly. Nevada residents know that leaving very clear instructions for trust administration is one way to control this process.

Occasionally, estate laws, tax codes and personal relationships change. This can have a direct impact on trust administration. How can a Nevada reader have peace of mind regarding his or her estate? One of the main ways is to enlist a trust protector. This is a third-party who will enforce the details of a will or trust and is typically not a family member.

It is important to understand state laws regarding trust administrators and trust protectors. Every state has different regulations, but simple research can determine all available options. One of the most important aspects of a trust is ensuring that all documents are worded in a way that do not allow for changes from a trust administrator. This can protect asset distribution from being affected by emotions, family turmoil and more. The individual drafting the trust would be able to designate how much control a trust protector or trust administrator will have.

It is difficult to imagine how a family will handle a large estate or inheritance after a family member's death. One of the best ways to ensure that issues do not arise is to have clearly worded and legally binding documents drafted. These documents can make property distribution and trust administration simpler for the family left behind.

Source: The New York Times, Guardians of Trusts, John F. Wasik, March 12, 2014

No Comments

Leave a comment
Comment Information
  • Martindale-Hubbell | Top rated lawyer in Tampa | Richard Escobar | For Ethical Standards and Legal Ability | Martindale-Hubbell Top rated lawyer
  • Top Lawyers 2016 | Richard Escobar
  • Top Lawyers 2016 | Dino Michaels
  • Highest Possible Rating in Both Legal Ability & Ethical Standards | AV |AV Preeminent | Richard Escobar | 2016
  • Judicial Education | AV | AV Preeminent | Richard Escobar | 2016
  • CLIENT | DISTINCTION AWARD | Dino mike Michaels, Esq. | Recognized for Excellence | Quality of Service | Overall Value | Responsiveness | Communication Ability
  • 15 | YEAR | Anniversary | Proudly Serving | the Community | Since 2001 | Dino Mike Michaels

Office Location

Escobar & Associates
2917 W. Kennedy Boulevard
Suite 100
Tampa, FL 33609

Phone: 813-513-0274
Fax: 813.877.6590
Tampa Law Office Map