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    • Estate Planning, Trusts, Wills

       

      Planning what will happen to your estate upon your passing will ensure that your final property and health care wishes are honored, and that loved ones are provided for in your absence.

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    • Elder Law

       

      The legal issues facing the elderly are often complex, so it is important that the attorney handling their case is familiar with the many laws and regulations affecting seniors.

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    • Probate Administration

       

      We help clients navigate the probate court process who have been appointed as personal representatives and executors of a probate estate, and we assist them to in fulfilling their legal duties.

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    • Trust Administration

       

      If you have been appointed as Successor Trustee, or are currently acting as a Trustee, we can assist you in fulfilling your legal and fiduciary duties.

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    • Real Estate Law

       

      We are experienced in consulting with clients regarding the sale or purchase of real estate, as well as representation of their best interest throughout the transaction.

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    • Probate Litigation

       

      Our attorneys work closely with executors, trustees, beneficiaries and potential heirs to resolve disputes over estate plan documents, and contested property including bank accounts, real estate, and personal property.

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  • Contact Us
MENUMENU
  • About Us
  • Attorney Profiles
  • Practice Areas
    • Estate Planning, Trusts, Wills

       

      Planning what will happen to your estate upon your passing will ensure that your final property and health care wishes are honored, and that loved ones are provided for in your absence.

      LEARN MORE

    • Elder Law

       

      The legal issues facing the elderly are often complex, so it is important that the attorney handling their case is familiar with the many laws and regulations affecting seniors.

      LEARN MORE

    • Probate Administration

       

      We help clients navigate the probate court process who have been appointed as personal representatives and executors of a probate estate, and we assist them to in fulfilling their legal duties.

      LEARN MORE

    • Trust Administration

       

      If you have been appointed as Successor Trustee, or are currently acting as a Trustee, we can assist you in fulfilling your legal and fiduciary duties.

      LEARN MORE

    • Real Estate Law

       

      We are experienced in consulting with clients regarding the sale or purchase of real estate, as well as representation of their best interest throughout the transaction.

      LEARN MORE

    • Probate Litigation

       

      Our attorneys work closely with executors, trustees, beneficiaries and potential heirs to resolve disputes over estate plan documents, and contested property including bank accounts, real estate, and personal property.

      LEARN MORE

  • Contact Us

Trust Administration

Trust Administration differs from Probate Administration. In a Michigan Probate administration, it is the Personal Representative who administers the Estate. However, in a Trust Administration, it is the Trustee’s responsibility to administer the Estate pursuant to the instructions of the Trust. Have you been named as a Trustee of a trust? A Trustee has many duties as well as an ethical obligation to protect the trust assets and the interests of the beneficiaries. When a person dies leaving a valid trust, a Trust Administration becomes necessary to carry out the wishes of the decedent as written in his or her trust. The person who created the trust, the Trustor, appoints a Trustee to administer the trust upon their passing and essentially distribute the assets to the named beneficiaries in the trust. A Trustee must act in their fiduciary capacity in the administration of a trust, which means the Trustee has an obligation to protect the trust assets and the interests of the beneficiaries.

The basic duties of a Trustee involve the collection, management, investment, and distribution of trust assets. It is also important to keep detailed records as well as prepare an accounting, an inventory, and possibly obtain appraisals. The principal source of Trustee powers and duties is the trust agreement itself, so it is important for the Trustee to be familiar with the terms of the trust. Another important set of duties relates to tax matters. It may be necessary to prepare a federal estate tax return (706), an income tax return (1041), and possibly a fiduciary tax return. We recommend all Trustees meet with one of our notably experienced Attorneys to determine what tax returns may be necessary. If someone exceeds their Trustee powers, they may be held liable for loss or damages to the trust Estate. A Trustee can carry out all Trustee duties; however, it is recommended that they hire attorneys, accountants, investment advisors, and others to consult with concerning the administration of the trust. Such advisors are usually paid through the assets of the trust, so there is normally no out of pocket costs to the Trustee.

Our law firm will work with the Trustee and beneficiaries to have the trust administered in a timely and professional manner. We can offer peace of mind to the Trustee by making sure the terms of the trust agreement have been satisfied. If you have been appointed as a Successor Trustee or are currently acting as a Trustee, contact Stewart and Bruss, P.C. today so that we can assist you in fulfilling your legal and fiduciary duties.