Trusts are established for a variety of reasons but usually to safeguard assets for the benefit of one or more beneficiaries. Trusts may be created to provide for support in lieu of a lump sum inheritance, to provide income for a specified purpose or no purpose at all, or to provide a financial support for certain expenses. For example, a Trust can be created as a college and graduate education fund, medical expense fund, first house fund, or anything else that can arise in life. Oftentimes, Trust creation can be a stressful process in and of itself trying to balance the equities of every Trust beneficiary in addition to ensuring the creator of the Trusts’ wishes are honored. However, Trust administration and possible litigation is where many run into issues. At Parker Law, LLC, we have a skilled probate lawyer in Columbia, SC and we’re here to help you with any Trust-related issues you may encounter.
Get Your Free Case Consultation
No upfront costs to you or your family. We strive to recover maximum allowable compensation for our clients.
What is Trust administration?
Trust administration is the act of administering the Trust. Issues may arise after the death of the settlor, after a trustee has either stepped away from the Trust, resigned, can no longer make any decisions due to incapacity, or has passed away. Many of the tasks of trust administration are simple and do not lead to controversy, such as paying outstanding bills, arranging for funeral expenses if appropriate, filing income tax returns, and taking any other action that may be legally required for the operation of the Trust. However, it also involves payments or other disbursements to beneficiaries or others who have a vested interest in the Trust per the terms of the Trust, or, if appropriate, whenever the trustee authorizes a payment or believes it is warranted. Contact our attorney at Parker Law, LLC to answer any questions you may have regarding the creation of a Trust or Trust administration.
What issues lead to Trust litigation?
Oftentimes, beneficiaries and trustees work diligently to help ensure they do not involve courts in Trusts both due to the amount of time and money involved in a judicial process and due to the fact that the terms and assets involved in a Trust may become public knowledge. However, when parties are at odds on a variety of Trust-related issues, litigation may be the only solution to help solve that issue. There are a variety of reasons litigation might ensue, such as a dispute regarding Trust disbursements, division of property in the Trust, or other Trust asset issue. Disputes may also occur if beneficiaries believe there is a discrepancy in Trust accounting, a breach of duty issue, or even challenging the validity of the Trust. Clearly, there are many issues which can require Trust litigation. If you are having an issue related to a Trust, contact Parker Law, LLC to ensure your rights are protected as quickly as possible.
Get Your Free Case Consultation
No upfront costs to you or your family. We strive to recover maximum allowable compensation for our clients.
How can a Trust administration or litigation lawyer help me?
Our qualified and experienced lawyer at Parker Law, LLC can help you with every aspect of a Trust and will ensure that you’re zealously represented no matter the legal issues you are facing. From setting one up to administrative rules, to, if need be, litigation, we’re able to help and counsel our clients every step of the way. Contact our firm today to schedule a free consultation on one or more of these issues to help ensure that your legal rights are protected in relation to a Trust or Trust administration.