Nashville Trust Administration Attorney |Living Special Needs Trust Lawyer

Trust Administrator in Tennessee

Establishing a trust can be a key element of any estate plan. In fact, a proper trust can help you avoid probate, minimize taxes, and distribute your assets in private. However, drawing up the trust documents and funding the trust is only the first step in a successful trust. What takes place after the trust has been established is generally referred to as trust administration.

Trust administration is the process by which the trustee carries out the directives of the trust. These responsibilities may include filing tax returns, distributing money, making investment decisions, filing waivers, buying or selling real property, or even running a business. With these job functions comes great duty. As a fiduciary, a failure to perform these tasks adequately can create liability for damages to the beneficiaries and others.

At Ingraham Pautienus & Tidwell, PLLC, located in Brentwood, just outside Nashville, Tennessee, we advise current trustees or act as trustees for a wide variety of trust vehicles, including revocable living trusts, special needs trusts, AB trusts, charitable trusts, and irrevocable life insurance trusts (ILIT). If you are the administrator of a trust or are looking for a trustee to administer a trust, contact one of our attorneys to learn more about trust administration.

Besides the duties listed above, a trustee may also be responsible for:

Notifying trust beneficiaries of developments
Inventorying and valuation of all properties contained in the trust
Paying the creditors of the trust, if any
Making disbursements to beneficiaries
Enforcing the legal rights of a trust
Dissolving the trust and distributing its assets

Trusts as Part of a Successful Estate Plan

Besides administration, our attorneys help clients to create trusts that conform to their long-term estate and financial planning objectives. The correct trust vehicle will depend on your goals and the size of your estate. There may even be important tax benefits to creating a trust. Our lawyers examine the goals of clients, as well as their financial position, to develop if a trust is right for them.

To find out more about trust administration, contact us at Ingraham Pautienus & Tidwell, PLLC for a free initial consultation. Our lawyers represent people throughout Middle Tennessee, including people in Murfreesboro and Clarksville.