Trust Administration
With Trust Administration, we work to ensure that the directives of the creator of the trust are fulfilled. We take responsible actions to benefit the creator of the trust as well as the beneficiaries of the trust. It is our goal to transfer the assets from the grantor to the beneficiary or beneficiaries in the most efficient and ethical manner.
- Follow the trust or will instructions
- Take care of assets for the benefit of the beneficiaries
- Assess the value of the assets
- Pay final federal and state taxes
- Make prudent investments and financial decisions
- Distribute assets
- Provide for disabled adults' special needs and experiences
- Administer Special Needs Trusts
Probate Administration
Probate is a legal process that takes place after someone dies. If someone doesn’t have a Trust, the title to their assets (homes, vehicles, financial accounts) will need to be transferred. A probate administrator is appointed by the Probate Court to do the following:
- Identifying and inventorying the deceased person's property
- Having the property appraised
- Distributing personal property to relatives, friends, charities, etc.
- Liquidating assets such as homes, vehicles and other financial accounts
- Paying debts and taxes, and
- Distributing the remaining property as the will (or state law, if there's no will) directs
Durable Power of Attorney
A Durable Power of Attorney is a legal document that you create to give another person the legal authority to act on your behalf, even if you become incapacitated and can no longer speak for yourself. By choosing a Power of Attorney ahead of time, you have the power to make sure that your wishes will be met regarding your legal, financial and health decisions. You can give the agent limited or broad powers. It’s up to you.
- Authorize most aspects of financial management on client's behalf
- Manage all banking transactions, including check writing and accessing safety deposit boxes
- Buy and sell property
- Make decisions about stocks or other securities
- Purchase insurance
- Manage government benefits
- File tax returns
- Hire professionals to assist with responsibilities
- Follow the client's wishes for medical decisions
- Obtain second opinions, when necessary
- Communicate with family about medical decisions
Conservatorship
When a person is no longer able to make their own decisions, a conservatorship may be set up. Conservatorship is a legal relationship where a judge appoints a guardian or organization to care for an adult who cannot care for himself or herself or his or her estate. As conservator, we manage the financial and personal matters, as well as the health care decisions of the conservatee and report to the court on a regular basis.
- Arrange for services (cleaning, groceries, in-home care, rides to appointments, etc.)
- Monitor safety and appropriateness of living arrangements
- Assist with coordination of care and manage prescriptions
- Maintain properties
- Locate and protect assets
- Pay bills and maintain home/care/health insurance
- Make investments and manage retirement accounts
- Apply for available benefits
- Advocate for the client's rights