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Trust Administration

Trust Administration

We are trust administration attorneys. After a trust is created, the trustees are responsible to follow the directions contained in the trust document. Most people can administer their own revocable living trust during their lifetime with a minimum of legal assistance. We provide ongoing trust administration and maintenance assistance to our clients through our voluntary Generations Maintenance Program.

When a person dies or becomes incapacitated, successor trustees are required to take over the trust and follow the directions given by the trustmaker. This means taking care of the trustmaker’s financial affairs during his or her lifetime. Upon death, the trustee is required to distribute and hold property in trust for the next generation of beneficiaries identified in the trust. We strongly recommend that our clients retain an attorney to help in this process which is called post-mortem trust administration. We can guide successor trustees through this process with a minimum of hassle and assure that the trustees properly discharge their duties and responsibilities to creditors, the IRS and the trust beneficiaries.

Some Frequently Asked Questions about Trust Administration

 

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4300 B Street, Suite 400, Anchorage, AK 99503
| Phone: 907-522-2272

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Foley, Foley & Pearson, P.C. is a full service Estate Planning law firm. We offer our clients services in Probate Administration, Estate Taxes, Wills, Trusts, Disability and Incapacity Planning, Estate Administration, Corporate and Business Law, Business Succession Planning, and Planned Giving and Charitable Bequests.