Pittsburgh Trust Administration Attorneys
40+ Years of Helping Clients Plan for Their Futures in Armstrong, Allegheny, Beaver, Washington, Butler, Westmoreland Counties
If you need assistance from Pittsburgh trust administration attorneys, then call Herb & Winters Law today to schedule a consultation.
Trust Administration in Pittsburgh
Once a trust has been established, trust administration refers to the tasks associated with the management of the trust after its creation.
What does Trust Administration in Pittsburgh include?
Trust administration encapsulates all aspects of managing of the trust including but not limited to:
Who can create a Trust in Pittsburgh?
Anyone who is of sound mind and over the age of 18 can create a trust. We, of course, recommend that you consult with one of our Pittsburgh Trust Attorneys at Herb & Winters Law regarding the drafting of your trust.
- Filing Tax Returns: Trusts are recognized as a separate entity for purposes of tax laws. Accordingly, trusts also have to file taxes like any normal person has to do.
- Notifications After Settlor’s Death: With revocable trusts, certain notifications must be sent out to interested persons after the death of the settlor. Beneficiaries of the trust and heirs at law are generally going to be given notice of the settlor’s death.
- Making Distributions: Distributions must be made in accordance with the terms of the trust, so ensuring that everyone gets what they are entitled to when they are supposed to get it.
- Opening Bank Accounts: Opening up trust bank accounts.
- Collecting Assets & Protecting Assets: Ensuring that any assets that the trust is entitled to is paid to the trust and protected.
- Notifying All Financial Institutions of Settlor’s Death: so that appropriate changes to accounts can be effectuated.
- Finding Investment Company to Handle Investments: that is qualified to do so and that the investments are in accordance with any guidance given by the trust document.
- Final Expenses of Decedent: Pay off any final expenses of the Decedent if authorized to do so and prudent to do so.
- Valuations: Obtaining valuations on the trust property, so it is understood approximately how much the trust is worth.
- Payment of Bills: There are costs and fees associated with the continuation of the trust, so it is important to ensure that all such fees are paid.
- Trust Litigation: It is possible that trust litigation could arise and we can represent and advise a trustee throughout that process.
- Trust Contests: Should a trust contest arise, we can represent the trustee in that litigation as well.
- General Legal Advice: Any legal advice that the trustee may have we can provide guidance on how to best proceed.
- Serve as Trustee: In addition to assisting trustees, our law firm is also willing to serve as a trustee. Our law firm is happy to provide trustee services.
If you need a Pittsburgh Trust Administration Attorney, call Herb & Winters Law today to schedule a consultation.
Call our Pittsburgh Trust Attorneys Near You
In short, Pittsburgh trust administration attorneys at Herb & Winters Law can assist you with the administration of a new or existing trust. Be proactive and schedule a consultation today with the Pittsburgh trust administration attorneys at Herb & Winters Law today, so that you can start getting answers to your legal questions.