Legacy Care Law Firm

Serving as a Trustee is both an honor and a serious legal obligation. When you accept this appointment in New Hampshire, you step into a fiduciary role that demands diligence, transparency, and strict adherence to the terms of the trust instrument. If this is your first time acting as Trustee, you may feel uncertain about the scope of your authority and the steps required to administer the trust properly. Careful preparation and professional guidance can help you navigate the process efficiently … [Read more...] about New Hampshire Guide to Trust Administration

The flexible nature of trusts makes them a popular addition to the average estate plan. When a trust is created, the Grantor (person who creates the trust) must appoint a Trustee to oversee the administration of the trust. Being appointed as the Trustee of a trust is both a privilege and a weighty obligation given that it is a role that requires careful attention to detail and an understanding of both legal and financial principles. Even seemingly minor errors made during the administration of a … [Read more...] about 10 New Hampshire Trust Administration Mistakes and How to Avoid Making Them

Have you recently learned that a family member or close friend appointed you as the Trustee of a trust? If this is your first time serving in this role, you may feel overwhelmed or uncertain about managing the trust. These reactions are entirely normal but remember that the Settlor (the person who established the trust) clearly had great confidence in your abilities when selecting you for this important responsibility. To protect yourself and the trust, however, the attorneys at Legacy Care Law … [Read more...] about Reasons for a Trustee to Hire an Attorney for Trust Administration

Trusts are an increasingly popular addition to the average estate plan. The Trustee plays an integral role in the success (or failure) of any trust, making the administration of a trust a significant responsibility that requires a Trustee to act with diligence, integrity, and in the best interest of the beneficiaries. Understanding a Trustee's duties and responsibilities is crucial for anyone considering taking on this role or for those setting up a trust. With that in mind, the attorneys at … [Read more...] about Guide to Trustee Duties and Responsibilities during Trust Administration

Given the numerous and varied objectives that can be furthered with a trust agreement, it should come as no surprise that many people include at least one in their comprehensive estate plan. While there are numerous types of trusts, including many that target very specialized goals, there are some elements that all trust agreements have in common, including the appointment of a Trustee. The Trustee’s overall job is to administer the trust. If you find yourself appointed to be the Trustee of a … [Read more...] about What to Focus on during Trust Administration

Trusts have been around for a very long time. Although once used almost exclusively by wealthy families, trust agreements are now commonly found in the average person’s estate plan. While there are several different types of trusts and a wide variety of specialty trusts within those broader categories, one thing that all trusts have in common is a Trustee. If you find yourself appointed to the position of Trustee for the first time you likely have questions and concerns about fulfilling your … [Read more...] about Trust Administration Checklist for the First-Time Trustee

Most people are familiar with the concept of a trust; however, the thought of creating a trust can be a bit intimidating. If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. The Woburn trust attorneys at Legacy Care Law Firm explain some commonly used trusts and the estate planning goals they can help you accomplish. Testamentary Trusts A testamentary … [Read more...] about Which Type of Trust Do I Need?

Trustee Duties and Responsibilities If you have never served as the Trustee of a trust, it helps to first gain a general understanding of your duties and responsibilities. Overall, a Trustee’s job is to protect and manage the assets held by the trust and administer the trust using the terms created by the Settlor in the trust agreement. Some of the specific duties and responsibilities a Trustee has include: Trustee Liability for Mistakes and Errors As a first-time … [Read more...] about Can I Be Personally Liable If I Administer a Trust?

Over the last several decades, trusts have grown in popularity to the point where it is now common to find a trust included in the average estate plan. Although trusts have also evolved to the point where there are now numerous specialized trusts aimed at accomplishing very specific estate planning goals, all trusts have a few basic elements in common, including the need for a Trustee to handle the administration of the trust. Because the Settlor appoints the Trustee, almost anyone can be a … [Read more...] about Do I Need an Attorney to Administer a Trust?

If you choose to include a trust in your comprehensive estate plan you will need to appoint a Trustee to administer the trust. While this may sound like a simple task, choosing the wrong person to administer a trust can cause or contribute to the failure of a perfectly drafted trust agreement. Given the importance of choosing the right Trustee, the Beverly trust attorneys at Legacy Care Law Firm help you decide who your Trustee should be. What Is a Trust?  A trust is a legal … [Read more...] about Who Should Be My Trustee?