A common estate planning tool is a trust. There are many different kinds of trusts, but, put simply, a trust holds assets to be distributed to beneficiaries according to the specific terms of the trust. The grantor—the person who sets up the trust—names a trustee whose responsibility it is to administer the trust. There are several duties that the trustee is obligated to perform, and it can be complicated for a layperson both to do these duties and to be sure that they are doing them correctly as required by law. Many trustees lack the experience or the legal and financial knowledge to complete their tasks confidently. It is common for a trustee to seek the assistance of a trust administration attorney, who can make sure that all responsibilities are met, and that all is done in accordance with the laws governing trusts and financial transactions.
If you have questions or concerns about serving as a trustee or need help in administering a trust, call our experienced Worcester legacy planning lawyer today for a consultation.
Law Office of Polly Tatum
19 Cedar St
Worcester, MA 01609
(774) 366-3688
https://www.LawOfficeOfPollyTatum.com |