OKLAHOMA ESTATE PLANNING TRUST FUNDING ATTORNEYS

Trust Administration with Ball Morse Lowe

Ball Morse Lowe provides legal counsel to trustees. Serving as a trustee and administering a trust involves immense responsibility. If a trustee fails to meet certain responsibilities and duties, the trustee may held liable for breach of the trustee’s fiduciary duties. To avoid trust litigation, it is important for the trustee to fully understand the roles involved with administering and ultimately distributing the assets of the trust.

A few of these responsibilities include:

• Communicating with beneficiaries
• Gathering and valuing assets
• Managing trust assets
• Paying debts and expenses
• Filing tax returns (including any Federal Estate Tax Return)
• Providing accountings to beneficiaries
• Distributing assets to beneficiaries

Our office will guide the trustee through the trust administration and provide assistance to the trustee in fulfilling their responsibilities.

We can also assist the trustee by:

• Providing written correspondence to the beneficiaries
• Locating and gathering assets
• Negotiating with creditors
• Preparing a Family Settlement Agreement
• Applying for a federal employer identification number (EIN) for the trust
• Preparing and filing a Federal Estate Tax Return if necessary
• Working with the trust’s tax and investment professionals
• Preparing deeds and other legal documents required to transfer assets to the beneficiaries
  

Serving as a trustee of a trust can be an overwhelming task. However, it can also be a rewarding process since you are carrying out your loved one’s wishes.

Sometimes trust litigation is unavoidable. Our attorneys have experience defending trustees against claims that they have breached their fiduciary duties. We have also represented trust beneficiaries in understanding their rights as beneficiaries and in trust litigation proceedings. Trust Ball Morse Lowe to provide representation in trust administration and litigation matters of any kind. Give us a call today for more information at (405) 701-5355.