Maryland Trust Administration Attorney
Maryland Trust Administration
Trust administration involves managing or distributing a trust according to the terms outlined in the trust agreement. Typically, following the death of the original grantor, this process may include:
Creating a detailed inventory of all assets
Filing necessary fiduciary income tax returns or estate tax returns
Managing the assets to ensure the trust's longevity
Distributing the assets as specified in the trust agreement
What is Trust Administration?
Trust administration varies depending on the type of trust. At its core, it aids the trustee in executing the terms of the trust. Depending on the trust type and its provisions, trust administration may take place during the grantor’s lifetime or after their passing. A Maryland trust lawyer can support trust administration by:
Advising the trustee on their fiduciary responsibilities
Preparing an inventory of trust assets
Formulating a distribution plan that aligns with the grantor's intentions
It is crucial to recognize that the administration of a trust in Maryland can differ significantly based on its specific terms and the obligations involved.
Attorney’s Role in Maryland Trust Administration
The attorney's primary role is to guide the fiduciary regarding their obligations and to ensure compliance with the trust's terms. A Maryland trust lawyer may assist with:
Creating an inventory and/or accounting of the assets
Developing a management or distribution plan
Advising the trustee on any estate tax returns that may be necessary
Our office can effectively address any legal questions about trust administration. If you have any questions, please fill out the following form below and a trust administration lawyer from our office will get back to you.
