Pitfalls In Trust Administration

Assuming responsibility for a trust is challenging. The following pitfalls might hinder effective trust administration: Filed or threatened lawsuits may lower the trust’s worth and hinder the Trustee’s task of protecting its value. A poor relationship with the trust’s beneficiaries causes challenges in trust administration. Co-managing the trust with another Trustee makes decision-making more complicated. If the Trustee lacks proper asset management skills or is unfamiliar with the trust’s assets or details thereof, trust administration is problematic. One solution to counter these pitfalls is effective legal support from attorneys at Weiner Law. However, hiring a trust administration attorney does not alleviate the legal responsibilities imposed on the Trustee. The Trustee does not cease to serve as Trustee upon hiring legal counsel. Together, Trustees and legal counsel from Weiner Law will methodically move through the process to effectively discharge the Trustee’s duties. A lawyer is also helpful for guidance, trust administration experience, avoidance of errors, and unique representation in contentious legal battles after the trust assets distribution process. Legal support like ours can save the Trustee time and help them prepare for or avoid conflict. For example, challenges might arise with a beneficiary who attempts to contest the provisions of the trust. Weiner Law offers extensive support and helps Trustees prepare for any challenges they may face. Weiner Law 12707 High Bluff Drive Ste. 125 San Diego, CA 92130 (858) 333-8844 https://weinerlegacylaw.com/