Trusts Attorney in Henderson, Nevada
How does trust administration work?
How does trust administration work?
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a trust administration takes place when
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the grantor or the owner of that trust
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becomes incapacitated or passes away
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usually when they pass away and so that
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process entails having a successor
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trustee become the trustee of that trust
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and essentially
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carrying out what that trust requires as
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far as
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who are the beneficiaries and what’s the
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best way to get those assets to those
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beneficiaries in line with what that
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trust requires
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and so normally the successor trustee
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will want to use an attorney to help
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them
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fulfill those responsibilities because
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it is a fiduciary responsibility to
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settle a trust it’s a it’s a very
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important role and so trustees you know
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want to make sure they do it the right
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way
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the administration will allow them to
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settle out the final affairs and
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expenses of the deceased person
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inventory the assets they left behind in
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that trust value them and account for
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them
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and then ultimately distribute those
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assets to the beneficiaries in
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accordance with the wishes of a deceased
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person who established that trust
Las Vegas, NV estate planning attorney Taylor K. Morris explains how trust administration works.
