Trusts may only be as effective as the capabilities of your trust administrator. Handled properly, a trust can preserve your assets, help you meet the threshold for Medicare eligibility without losing everything, provide for your child’s education, or keep your home in the family. However, one misstep could cost you a considerable amount of money and even get you into legal trouble. Let our Sammamish, WA trust administration lawyer guide you through creating a trust that serves its proper purpose and provides the financial benefit you intend. Call Eastside Estate Planning today for a consultation.
Trust Administration Lawyer Sammamish, WA
Establishing a trust can be one of the smartest estate planning moves you can make. Trusts shield assets from creditors, bypass probate, and can ensure that the beneficiary enjoys a better quality of life. But, the effectiveness of a trust depends on the abilities of its administrator. Some kinds of trusts do not allow the creator to serve as trustee; others do. The decision of whether you, as the creator, serve as the trustee or you designate someone else to fulfill that role is therefore a critical one.
A trust administrator has weighty fiduciary obligations—to the trust and the trust alone. Although a trust is intended to benefit the named beneficiary or beneficiaries, the role of a trust administrator, or trustee, is to act in the best interest and according to the purposes of the trust. They manage the trust, including dispersing monies as per the trust’s instructions and making investments to increase the trust’s value. They also complete all necessary accounting for transactions made on behalf of the trust and file any required tax returns.
Our Sammamish trust administration lawyer explains the duties of a trustee and can help you evaluate people in your life who could serve as a trustee. Our firm also provides trustee services, if there is no one you can depend on to take this responsibility. We understand the legal requirements and are ethically committed to acting in your and your trust’s best interest.
Why Experience Matters For Administering A Trust
There is more than one type of trust. Knowing which type of trust is most suitable to help you achieve your financial goals is essential. Our Sammamish trust administration lawyer can create the right trust and help you choose an appropriate person to administer it. Our firm also provides trust administration services. If there is one in your life you can trust with that responsibility. Our experience with the Washington Estates Code and our thorough understanding of a trust administrator’s fiduciary duty mean that your trusts are in good hands with us.
- Accomplished member of the Washington Bar Association | Tax Section Member
- Firm lead attorney Robert Franco holds an advanced legal degree from the University of Washington School of Law, LL.M. - Tax Law
- We’re local! Robert is a native of Bellevue, Washington’s East Side
- Member in good standing of the Cardozo Society of Washington State
Do you need help with trust administration? Call Eastside Estate Planning today for a consultation.