Experienced New York Attorneys Assist Clients with Trust Administration
Reliable estate lawyers advise trustees in the Center Moriches area
At The Kelly Law Group, P.C., our attorneys advise clients in the Center Moriches area and throughout New York on how to comply with all aspects of trust administration accurately and completely. Trustees can benefit from sound legal guidance so they are not held personally liable for losses in the value of estate assets due to errors or misconduct. In addition, for individuals who want an experienced third party representative to oversee their trust, we can assume administration duties, offering a qualified attorney to serve as trustee. We guide individuals through trust administration with confidence and efficiency.
Reputable law firm counsels trust fiduciaries
Once a grantor establishes a trust, either they or a reliable fiduciary must act as trustee. The trustee is responsible for seeing to the completion of necessary tasks according to state laws and the terms of the trust. The attorneys at The Kelly Law Group, P.C. provide advice to trustees so they can capably manage duties related to trust administration, including:
- Communication with beneficiaries
- Investment of assets
- Management of assets, including real property
- Collection from debtors and payment of creditors
- Preparation of accountings
- Preparation of tax returns
- Distributions to beneficiaries
Trust administration requires careful attention to each detail of the grantor’s wishes. We support trustees during every step of their administration efforts and help them avoid missteps.
Knowledgeable counselors handle a wide variety of trusts
There are many different types of trusts, each with its own rules and regulations. We are well-versed in matters related to both common and less frequently encountered trusts, including:
- Credit Shelter Trusts (CST)
- Incentive trusts
- Living trusts
- Generation-skipping trusts
- Qualified Terminable Interest Property (QTIP) trusts
- Qualified Personal Residence Trusts (QPRT)
- Charitable remainder trusts
- Irrevocable life insurance trusts
If you have been named a trustee, securing legal counsel is often beneficial. The attorneys at The Kelly Law Group, P.C. provide highly ethical representation to trustees. We work to maintain the fiscal strength of trusts so that they serve beneficiaries through their intended lifetime.
Contact a reliable New York trust administration law firm
The trust administration process can feel overwhelming for individuals unfamiliar with estate law. Our attorneys can help to ease the burden for clients in New York. To schedule a free consultation with The Kelly Law Group, P.C., call our Center Moriches office at (631) 933-1655 or contact us online.