Rippy, Stepps & Associates
Put your legal matters in order.Plan now for a more secure future.
Payment Button
View Our Practice Areas

Having the necessary documents is vital to trust administration

Being appointed as a trustee is a serious action. Arkansas residents who are acting in this role will have a great deal of responsibility as they have the duty of settling the trust in accordance with the trustmaker's wishes and state laws. If individuals do not have experience with the trust administration process, it can certainly seem complicated.

In efforts to better understand their responsibilities, trustees may want to gain as much knowledge about their duties as possible. The main duty is settling the trust, and it is necessary to have all documents associated with the trust, including the trust agreement and pour-over will, if applicable. Any other estate planning documents, like funeral instructions and financial information, will also be important to have during this time.

The trustee also needs to review and note the information contained in the trust agreement. Vital details include named beneficiaries, names of witnesses, and the date and location when the agreement was signed. This information could help ensure that the trust was created properly and will be considered legally binding. Any issues with the trust information could render it invalid or potentially lead to conflict.

Because so much work goes into settling a trust and since the trustee must act appropriately, it is wise to have help. Fortunately, Arkansas residents can work with experienced attorneys who understand how the handle this part of a deceased person's estate. Individuals with questions or concerns about trust administration may find it helpful to enlist this type of help to ensure that they carry out their duties correctly.

No Comments

Leave a comment
Comment Information
Email Us For A Response