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The Voeller Law Firm

210-985-2741

Serving The People Of San Antonio For More Than 40 Years

Attorney James N. Voeller, Rebecca L. Jaroszewski and Rebekah Meeks Schement

Guidance And Support For Texas Trust Administration

When a loved one passes away and their assets are held in a trust, the process of trust administration ensures the parameters of their trust are honored and assets are properly transferred to beneficiaries.

Trust administration involves managing and distributing assets held within a trust according to the trust’s terms and Texas law. It begins when the trust creator (the grantor or settlor) becomes incapacitated or passes away. The trustee, appointed by the trust document, takes on the responsibility of administering the trust.

Trust administration involves a series of legal and fiduciary responsibilities, including:

  • Reviewing the trust: The trustee must first thoroughly understand the trust document to identify beneficiaries, distribution terms, and any specific instructions.
  • Notifying beneficiaries: Texas law requires the trustee to notify beneficiaries of the trust’s existence and their rights. (Texas law does allow the trust creator to provide that beneficiaries under the age of 25 are not entitled to information related to the trust).
  • Accounting for trust assets: The trustee must identify, inventory and protect trust assets. This may involve appraisals, insurance and investment management.
  • Asset management: Preserving assets through various means until they are properly distributed.
  • Distribution of assets to beneficiaries: The trustee distributes assets to beneficiaries according to the trust’s instructions. This may involve outright distributions or ongoing management for long-term trusts.
  • Addressing necessary tax implications: The trustee must understand and manage the trust’s tax obligations, such as filing tax returns and paying income, estate or gift taxes.
  • Accounting: Texas law requires the trustee to provide regular accountings to beneficiaries, detailing income, expenses and distributions.

If you have been designated as a trustee, you may find yourself suddenly at the helm of a range of legal and fiduciary duties. Navigating these complex duties can be overwhelming without an experienced legal counselor. Engaging an experienced trust administration attorney can help you as the trustee navigate these complexities, minimize liability and ensure the trust’s terms are properly executed. At The Voeller Law Firm, our attorneys provide comprehensive trust administration services for our clients.

Trustee Support: Easing The Burden

Just what is the role of a lawyer in trust administration? Our team at The Voeller Law Firm works closely with trustees to ensure compliance with all legal obligations. We aim to alleviate the stress and uncertainty that can accompany trust administration, allowing you to focus on honoring the decedent’s wishes and providing peace of mind to beneficiaries.

Here’s how our lawyers help to ease your burden:

  • Legal duty guidance: Our attorneys can explain the trustee’s legal duties and obligations under Texas law, ensuring compliance.
  • Trust interpretation: Our lawyers will help interpret complex trust language and resolve ambiguities.
  • Beneficiary communication: Our attorneys will draft notices to beneficiaries and manage communications to minimize disputes.
  • Asset management advice: Attorneys at The Voeller Law Firm provide guidance on asset management strategies and help the trustee fulfill their fiduciary duties.
  • Tax planning: We can advise on tax implications and help the trustee minimize tax liabilities.
  •  Dispute resolution: If disputes arise among beneficiaries or between beneficiaries and the trustee, an attorney can help mediate the issues and hopefully avoid litigation.
  •  Preparation of accountings: We have experience preparing accurate and legally compliant accountings for beneficiaries.
  • Legal compliance: Our lawyers can help you to be sure that all actions taken by the trustee comply with the Texas Property Code and other applicable laws.

Our lawyers recognize that each trust is unique. We are well aware that specific terms and conditions that must be adhered to can be confusing. Our attorneys are here to help. Whether you are a first-time trustee or have prior experience, we offer personalized guidance tailored to your specific needs.

Are You Facing New Responsibilities As A Trust Administrator? Call Us Today.

At The Voeller Law Firm, our client-centric approach ensures that trustees receive the highest level of service and support. We aim to build strong relationships with our clients, providing accessible and compassionate legal services that inspire trust and confidence. Our commitment to professionalism and prompt communication further enhances our reputation for reliability and respect.

Call our office at 210-985-2741 to learn more about our legal services for trust administration. You may also reach The Voeller Law Firm by using our online contact form.