We
work extensively in the area of Trusteeship. Being
closely connected to an estate planning law firm, Trusts
are a daily part at TFA. Once a Trust has been set up,
there are administrative duties than can become
cumbersome if the Settlors and/or Trustees are not
adequately prepared.
In some cases, we become the Trustee of our client
Trusts. We can take the form of either an individual
Trustee or an individual Co-Trustee. In this capacity,
we take on the duties commonly associated with Trusts,
including, but not limited to, distributions to
beneficiaries, Annual Reports to beneficiaries and
outside reporting agencies (if necessary), maintaining
accounting records, paying bills, monitoring deadlines,
and supervising the completion of tax returns.
Another role we play in Trusts is the Trust Protector.
Trust Protectors are added to Trusts to provide general
oversight of the Trust Operations to insure its
objectives are met and the law is followed. Each Trust
can be designed differently in its purpose, and a Trust
Protector can make changes to the Trust when laws change
so that the Trust maintains the original intent of the
Settlor or creator, of the Trust. We have found that our
clients appreciate us in the Trust Protector role due to
our extensive legal knowledge and resources.
As stated, the duties of a Trustee and Trust Protector
can vary with each Trust. We can act in either capacity
with full or limited power in accordance with your
needs.
Please visit
www.wallerandmark.com for more information about
Estate Planning preparation.
Contact us today if you are
interested in learning more about our Trusteeship services.
We
work extensively in the area of Trusteeship. Being
closely connected to an estate planning law firm, Trusts
are a daily part at TFA. Once a Trust has been set up,
there are administrative duties than can become
cumbersome if the Settlors and/or Trustees are not
adequately prepared. 