Trust Administration Lawyer in Maryland
Based in Glen Burnie, MD. Serving your trust administration needs statewide.
Trust creation and administration are among the more complicated aspects of estate planning. There are many different types of trusts — living trusts, irrevocable trusts, and more — and some will be a better fit for you than others.
At Chesapeake Wills and Trusts, we can recommend a trust type that suits your needs and help you manage your trust assets long term. Call (443) 249-8683 or contact us online to schedule a consultation with a trust administration lawyer. We operate out of our main office in Glen Burnie, MD, and serve clients statewide.
What Is Trust Administration?
Trust administration is the process of managing and distributing assets in a trust according to the terms of the trust agreement. Trust administration is the trustee’s responsibility, but they do not have to do it alone. Our experienced trust administration attorneys can assist you or your trustee in performing these duties, including:
- Advising trustees and successor trustees on their legal obligations
- Identifying suitable assets to fund the trust
- Creating an inventory of the trust assets
- Preparing and filing tax returns, including estate and income taxes
- Managing the assets for the duration of the trust
- Distributing the assets to your beneficiaries per your instructions
The exact obligations will depend on the trust type and the provisions of the trust agreement, so contact a lawyer from our firm, Chesapeake Wills and Trusts, for assistance with your trust.
Should You Hire a Trust Administration Lawyer in Maryland?
You have no legal requirement to hire a trust administration lawyer. If your estate is small with few assets and simple instructions, you may be able to manage a trust without an attorney.
However, if your estate is larger or more complicated, you should consider hiring one of our experienced trust administration attorneys. At Chesapeake Wills and Trusts, we can:
- Protect your legal interests
- Oversee the proper management of the trust
- Create a strategy that ensures all legal obligations are handled appropriately.
The Risks of Not Hiring a Trust Administration Attorney
Trust administration is a complex process that requires knowledge of various legal and financial regulations. Without competent legal advice, you risk choosing a trust type you do not need, underfunding your trust, not funding it adequately, and other common missteps. The consequences for your estate and beneficiaries can be serious.
To minimize the risk of potentially costly errors, consider hiring one of our trust administration lawyers. We can assist you even if we did not originally help you set up the trust.
Talk to a Maryland Trust Administration Lawyer Today
Proper trust administration is critical to your estate planning strategy. At Chesapeake Wills and Trusts, we can help you find the right trust type for your needs and administer your assets according to your wishes.
Call (443) 249-8683 or contact us online to schedule a consultation with a trust administration lawyer from our firm. We are based in Glen Burnie, MD, and serve clients statewide.
Schedule a Call
Complete the form below and someone from our team will be in touch shortly or call now at 410-590-1900.