TRUST ADMINISTRATION

If you are a trustee, successor trustee, beneficiary or interested party to a Trust, our firm can provide you with representation and guidance. Our knowledgeable attorneys advise in all aspects of Trust Administration and have experience administering trusts of all sizes.

THE TRUST ADMINISTRATION PROCESS

When a person dies with a living trust, the successor trustee must carry out their wishes and administer the trust. This involves the management and distribution of trust assets in accordance with Michigan law. Trustees have fiduciary and statutory duties that they must comply with - or they may be subject to liability.

During a Trust Administration in Michigan, a Trustee is usually required to do the followings things:

  • Accept or decline Trusteeship

  • Notify all qualified beneficiaries of acceptance/rejection of Trusteeship

  • Secure original copies of the trust and will

  • Get the name, address, phone and email for each beneficiary and heir

  • File the original will in Probate Court

  • Provide notice to known and unknown creditors

  • Provide contact information and copies of the trust to qualified beneficiaries

  • Obtain a Tax Identification Number (EIN) from the IRS

  • Locate the decedent’s assets and identify values

  • Open a bank account in the name of the Trust

  • Prepare and file tax returns

  • Act impartially

  • Enforce and defend claims against the trust and

  • Provide an annual trust accounting to qualified trust beneficiaries

Many Trustees hire an attorney to help them navigate the Trust Administration process.  This expense is almost always paid from Trust assets. If you have been named as Trustee in a trust document and need assistance, call and speak to one of our Trust Administration attorneys today. We offer in-person, virtual and telephone appointments for your convenience.