Trust Administration

Trust Administration in Massachusetts: A Guide by VON WEISS LAW OFFICE

Navigating the complexities of trust administration in Massachusetts can be a daunting task for trustees and beneficiaries alike. At VON WEISS LAW OFFICE, we understand the intricacies involved and are here to guide you through every step of the process. This page provides an overview of trust administration under Massachusetts law, highlighting key responsibilities, legal obligations, and how we can assist you.

Sepia shaded image of living trust and estate planning document. A tax form is also included in the scene.

What is Trust Administration?

Trust administration refers to the process by which a trustee manages and distributes the assets held in a trust according to the terms set forth by the grantor (the person who created the trust). This involves a series of legal and fiduciary duties, from the initial acceptance of the trust to the final distribution of its assets to the beneficiaries.

Legal Framework in Massachusetts

Massachusetts law provides a comprehensive framework for trust administration, primarily governed by the Massachusetts Uniform Trust Code (MUTC), codified in M.G.L. Chapter 203E. The MUTC outlines the duties and powers of trustees, the rights of beneficiaries, and the procedures for administering trusts.

Key Duties of a Trustee

1. Duty of Loyalty: A trustee must act in the best interests of the beneficiaries, avoiding conflicts of interest.

2. Duty of Care: Trustees must manage the trust assets prudently, as a reasonably prudent person would.

3. Duty to Inform and Account: Trustees must keep beneficiaries reasonably informed about the administration of the trust and provide them with regular accounting.

Administration Steps

1. Acceptance and Notification: Upon the grantor’s death, the trustee formally accepts their role and notifies the beneficiaries and any relevant parties.

2. Asset Management: The trustee identifies, secures, and appraises the trust’s assets.

3. Debts and Taxes: The trustee pays any debts and taxes the trust owes in compliance with M.G.L. Chapter 62C for tax administration and reporting requirements.

4. Distribution: Assets are distributed to the beneficiaries according to the trust’s terms.

Challenges in Administering a Trust

Trust administration can present various challenges, including disputes among beneficiaries, interpretation of the trust document, and managing complex assets. These issues require careful navigation to protect the interests of all parties and ensure the trust’s purpose is fulfilled.

How VON WEISS LAW OFFICE Can Help

At VON WEISS LAW OFFICE, we’re focused in estate planning and trust administration. Our expertise includes:

– Trust Interpretation: We can provide clarity and legal insight into the terms of the trust and ensure they are implemented as intended by the grantor.

– Fiduciary Advisory: We guide trustees through their duties, helping them understand their legal obligations and how to fulfill them.

– Beneficiary Representation: We represent beneficiaries in ensuring their rights are protected, and they receive what they are entitled to under the trust.

– Dispute Resolution: Our experienced attorneys can help resolve disputes amicably and efficiently, minimizing the impact on all involved.

Trust administration is a significant responsibility with many legal nuances. Whether you are a trustee needing guidance on your duties or a beneficiary with concerns about your rights, VON WEISS LAW OFFICE is here to provide the expertise and support you need.

We encourage you to contact estate planning attorney Brigitte Von Weiss for personalized advice and assistance with your trust administration needs. Contact us at (508) 238-3005 to schedule a consultation. At VON WEISS LAW OFFICE, we are committed to ensuring that the administration of your trust is handled with the utmost care and professionalism, honoring the intentions of the grantor and the interests of the beneficiaries.


Testimonial

“Brigitte has been my Estate Attorney for many years. She took care of my Parents' Estate as well. She did a fantastic job for my parents and as they each passed she was helpful with every aspect of their estate. She is a genuine and wonderfully sincere woman. She is very well informed and up-to-date on Elder Law and handled our family losses with much compassion. She has a wonderful network of individuals and attorneys who specialize in other areas of law and they were instrumental in assisting me with problems that arose with my parent who suffered from dementia. I highly recommend Brigitte.”

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Brigitte von Weiss is an estate planning lawyer and elder law attorney serving clients in Easton, MA, as well as nearby towns and cities, including Abington, Bridgewater, Brockton, Canton, East Bridgewater, Foxboro, Mansfield, North Easton, Norton, Randolph, Raynham, Rehoboth, Rockland, Sharon, Stoughton, West Bridgewater and Whitman.

VON WEISS LAW OFFICE
50 Oliver Street • North Easton, MA 02356
Telephone: (508) 238-3005


 

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