What is Trust and Estate Administration?
Trust and estate administration is the process of managing and distributing someone's assets after they die (estate administration) or managing assets held in a trust during someone's lifetime or after their death (trust administration).
The key difference is that estate administration handles assets that go through probate and follow the instructions in the will (or state law). In contrast, trust administration handles assets already titled in the trust's name and follows the trust document's instructions.
Both processes can be complex and involve legal, tax, and financial considerations, as well as significant time. The person handling these responsibilities has a fiduciary duty to act in the beneficiaries' best interests, which carries significant legal obligations.
Estate administration typically happens when someone dies and involves the executor (named in the will) or administrator (appointed by the court if there's no will) taking charge of the deceased person's assets. Their responsibilities include gathering and inventorying all assets, paying debts and taxes, notifying creditors and beneficiaries, and ultimately distributing what remains to the heirs as indicated in the will or by state law. This often involves probate court, which is the legal process that validates the will and oversees its administration.
Estate Administration
Trust Administration
Trust administration involves managing assets that were placed in a trust. The trustee (the person or institution managing the trust) has duties such as managing investments, paying trust expenses and taxes, distributing funds to beneficiaries in accordance with the trust terms, and maintaining detailed records. Unlike estate administration, trusts often avoid probate, which can make the process faster and more private.
Estate and Trust Administration Process
The death of a loved one is difficult enough without the burden of navigating legal complexities. Whether you're serving as an executor, trustee, or personal representative, we're here to guide you through the administration process with clarity and care.
This process can feel overwhelming, especially during a time of grief. Our job is to shoulder the legal burden so you can focus on caring for friends and family. We handle the details with precision and compassion, ensuring the estate is administered as your loved one intended.
How We Support You
We begin by understanding the estate. You'll schedule an initial meeting and complete an estate questionnaire—giving us the information we need to move forward thoughtfully.
We'll sit down together to discuss probate and trust administration, as well as any estate tax return obligations. This is where we map out the path ahead and answer your questions.
We draft the probate petition and all supporting documents, then send them to you with a summary letter explaining what everything means. Once the court issues its order, we provide a comprehensive summary of the next steps—gathering assets, paying debts, and filing taxes. We prepare the inventory and all required documents to complete administration and close the estate.
We handle the documentation for trust administration, including: Trustee Appointments, Acceptances, Tax Identification, Inventory, and correspondence to beneficiaries. Everything is sent to you with a clear summary letter—no confusion, just guidance.
If state or federal estate taxes apply, we draft the returns and send them to you for review. We update and finalize everything based on your comments and any additional information, then file the returns, along with supporting documentation, with the appropriate authorities.
We file closing letters with the probate court and lien releases with the registry of deeds, bringing the administration to a proper conclusion.
Protect your Legacy
If you are a resident of the state of Massachusetts and would like Fides Law to handle your trust and estate needs, please call our main office at (617) 693-1711 or email info@fideslaw.com
