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Trust Administration and Power of Attorney Assistance

You may find yourself in the position as a trustee of an estate of a loved one. A Clearwater trust administration attorney can explain to you that a trustee bears many important responsibilities. If you are not a professional money manager or attorney, you may need assistance in understanding your duties, obligations, and making the best decisions for your family.

Trust Administration Help With a Clearwater Trust Administration Attorney

Some important duties that a trustee may have to carry out in a living trust include:

  • Payments to Family Members. One of the most difficult decisions that a trustee may have to make is determining how much of your assets to provide to different family members and determining which family members will benefit. An estate planning attorney can help review the pros and cons of your decision.
  • Investment Decisions. You may have to determine how to invest the assets entrusted to your care. You may want to consider investing in the stock market, bonds, real estate, or a business.
  • Selling and Purchasing of Real Estate. The trustee may be placed in a difficult position to determine whether to sell the family home, choose who should live in the home, and whether to purchase a new home.
  • Unwinding and Splitting the Trust. In some cases, the trustee may have discretion to unwind and terminate the trust — such as when trust assets are insignificant. There may also be cases where the trustee would want to split the trust into several smaller trusts.

Durable Power of Attorney Assistance With a Clearwater Trust Administration Lawyer

Individuals preparing their estate plan can help avoid some trust administration problems mentioned above by appointing a power of attorney and delineating your wishes and desires in the power of attorney document. Your power of attorney can assist your trustee by acting on your behalf for many of these difficult decisions like whether to retain your home or how to invest your money.

Contact a Clearwater Trust Administration Attorney

If you are a trustee and need assistance with the administration of a trust, you should talk to an experienced trust administration attorney. Contact an attorney at the Coleman Law Firm by calling 727-461-7474 to discuss your concerns and learn how we can help you.

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