Becoming A Trust Administration Client

A relative or friend becomes incapacitated, or dies, and you are named in his or her Living Trust to act as successor Trustee.

In our view, being named to act as a successor Trustee at such a troubling time is both an HONOR and a JOB.  It is a matter to be taken seriously.

The first thing to realize is that being named to act in such a capacity does not mean that you must act. Rather, being named to act is merely a nomination that you may either accept, or decline to accept.

We recommend that we meet as soon as possible after the incapacity, or death, so that we may discuss with you all of the various responsibilities you will be undertaking, as well as the Fiduciary duties you will owe to the Trust beneficiaries, IF you decide to accept your nomination.

Then, depending upon your decision, you can sign either an Acceptance of Nomination, or a Declination To Act, and we can then deliver a copy of such document to all of the appropriate parties.

Generally, administering a Trust requires that you attend to several important matters, some of which are listed below. As you will see, the list of these important matters can seem a bit overwhelming.

However, please remember that you do not have to be an expert in the law in order to act as successor Trustee, as we will be using our 40+ years of experience to guide you throughout the administration of the Trust.

Nor do you have to be an expert in taxes, accounting, or investing, as in most instances the Trust Agreement will authorize you to hire not only an attorney, but also an accountant, an investment advisor, and any other professionals you may need to assist you, and then to pay these professionals from the Trust assets.

IF you decide to accept your nomination, we will be pleased to discuss with you how we will represent you in your capacity as successor Trustee.

Important Matters For Successor Trustees

As mentioned above, here are lists of just some of the important matters that a successor Trustee may need to attend to.

If the relative or friend is incapacitated:

If the relative or friend is incapacitated, matters a successor Trustee may need to attend to include: Read More

If the relative or friend has died:

If the relative or friend has died, matters a successor Trustee may need to attend to include: Read More