People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
Trust Administration
Understanding Trust Administration
Trust administration is the process of managing the assets held within a trust according to the terms laid out by the trust’s creator (grantor). It involves overseeing the trust’s operations from the point of the grantor’s death or incapacitation until the final distribution of its assets. The objective is to ensure that the beneficiaries receive […]
Trust Administration Pitfalls to Avoid
Trust administration plays a crucial role in ensuring the smooth transfer of assets and fulfilling the wishes of the trust creator. However, the process can be complex and prone to potential pitfalls. By exploring some of the common mistakes that can occur during trust administration and providing practical tips on how to prevent them, trustees […]
A Guide for a Smooth Administration
Preparing for the future and ensuring a seamless administration of assets and responsibilities is crucial. As you plan for the inevitable, one essential aspect to consider is providing your successor trustee with the necessary information to efficiently handle your affairs. Here is our guide to the essential information your successor trustee should know in advance. […]
Navigating Affairs After a Loved One’s Passing
The loss of a loved one is a challenging and emotional time. Amidst the grieving process, there are practical matters that need attention, especially in relation to your loved one’s estate. Estate planning plays a vital role in ensuring a smooth transition and proper distribution of assets. Here are 10 important steps to take when […]