How Long Does It Take To Distribute Assets From A Trustee? If you are a beneficiary waiting for asset distribution from a trust, it is likely that you are concerned about the timing of this process. A trustee must administer the trust according to the terms of the trust instrument, including any asset distribution plan set forth in the trust document. Here are some guidelines for that process from our experienced legal attorneys. The Trustee’s Role The trustee is responsible for managing the assets placed in a trust. This responsibility entails three primary duties: investment, administration, and distribution. The trustee... View Article
The beneficiaries of a trust are people or entities that the grantor (the person who created the trust) wants to support. The grantor usually indicates what the beneficiaries are supposed to receive and when, in a written document. The trustee manages the assets of the trust until the trust is distributed to the beneficiaries. The Beneficiaries Are The Ones Due To Receive The Trust Assets Trustees are supposed to treat trust beneficiaries fairly and take actions that benefit the Trust rather than themselves. Despite this, some Trustees are guilty of taking Trust assets to themselves or using them for personal... View Article
When a person dies, their last will and testament is the document that determines how their estate will be distributed to the people they choose. Occasionally, family members challenge a last will because they suspect it might be fraudulent. Fraudulent wills can be difficult to identify. However, there are a few red flags that can point to potential fraud in an estate plan, at which point, you’ll want to contact a legal attorney immediately. Signing A Will Signing a will is a vital part of ensuring that your wishes are recorded properly and legally. One of the main ways a will... View Article
Estate planning is a huge step, and you may need to speak to a legal attorney about your plans eventually. These are some tips for setting up a meeting to discuss the plans for your future: Approach Your Family With Sensitivity It might be hard to get all your family members together to discuss the things that need to be done once you’re deceased. The whole idea might seem morbid and offputting, but it’s a fact of life. Thus, sharing your estate plan is 100 percent necessary. You’ll want to find a time when all of you can get together... View Article
You might wonder about the different fees in a trust if you are a beneficiary or trustee. These are some answers to the most common questions regarding such fees. Problems That Arise Between Beneficiaries and Trustees Many problems can arise between trustees and beneficiaries. These are some issues that frequently occur: Trustee Removal The beneficiaries or other parties may need to discuss the removal of an untrusted trustee. That process can result in accumulated fees and efforts. Beneficiaries may have difficulty paying to have something done if they feel the trustee isn’t handling the accounts properly. Fortunately, they have alternative... View Article
