Trust administration is a complex, confusing area of the law, one in which some lawyers lack the experience to practice. We will not only draft trusts, but we will also immediately help you fund the trusts with assets such as real estate, stocks, bonds and other types of personal property. We will assist trustees to manage trust property throughout the life of the trust.
After the death of the first spouse, we will help you with the next phase of trust administration—dissolving the original trust and creating two or three trusts in which to transfer property. Determining whether to create an A, B, or C trust, or a spousal, bypass, or marital trust (commonly a qualified terminable interest property or "QTIP" trust) is complex, requiring the assistance of a lawyer experienced in trust administration. Our law firm—with the assistance of appraisers and financial advisors—will advise you about what trusts to create and what property to transfer into them.
When the second spouse passes away, we will help the new trustee interpret trust documents, understand his or her duties as a trustee, and ensure that the trust is managed and dissolved correctly. We will guide you from creating the initial trust until dissolving the final trust.
If you have questions about administering a trust, give us a call at 253.858.5434 to see how we can be of service.