Admin (Estate and Trust Administration)

Trust Administration Attorney Serving Chandler & Phoenix

It is important to understand that, as trustee, you will not personally own the trust assets. A trustee has a duty to safeguard trust assets for both the current beneficiaries and secondary beneficiaries. Secondary beneficiaries are those who will receive assets after the current beneficiaries die. Trustees are entitled to reasonable compensation for their service and can hire professionals, such as probate and estate lawyers and tax professionals, to assist them with their duties under the trust.

If you need help with the estate administration for a loved one, then our legal team is ready to help. When working with our law firm, you will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours. We offer free consultations to help you determine what your next steps need to be.

The Trustee’s Responsibilities In Arizona

A trustee has significant fiduciary duties and you will be held to a very high standard of care in administering the trust if you accept the appointment. A trustee also risks possible exposure to personal liability. The duties of a trustee are:

Read the trust document carefully, both when you first become the trustee and any time after that point should you have questions about your duties.
Follow the directions set forth in the trust document.
Keep all trust bank accounts and investments separate and avoid mixing trust assets with your own.
If applicable, invest trust assets in a prudent manner that is calculated to result in reasonable growth and/or return with minimum risk, avoiding risky or speculative investments.
Maintain clear and accurate records of the trust administration.
Account to the trust beneficiaries as provided by law and in the trust.
File tax returns and pay any taxes that are due.
Treat all beneficiaries the same and avoid favoring one over another unless the trust authorizes you to do so.
Avoid using the trust assets for your own benefit, unless the trust authorizes you, as the trustee, to do so.

There are other responsibilities and duties that fall to the trustee. If you have agreed to act as a trustee, our legal team can guide you through the administration process. We offer free consultations to help you understand what your next steps need to be.

The Estate Administration Process

1. Initial Meeting

We offer a free 20-minute initial phone consultation to obtain pertinent facts about your case and determine if it is a matter we can assist with. When preparing for an initial phone consultation regarding estate administration, it's helpful to have all the necessary information ready. This includes your relationship to the deceased, the names of any living and deceased relatives, and a copy of the will, if one exists.

2. Opening Probate

Based on the information you give us, we will determine how best to proceed with your case. If the facts of your case necessitate the filing of a petition or an application with the probate court, and you engage our firm, we will prepare and file that document on your behalf. If the Estate can be administered without the filing of a petition, we will prepare and file the necessary documentation with the court.

3. Appointment of Personal Representative

After we file the petition, or an application, the Court will determine whether it is appropriate to appoint you (or the person you nominate) as the Personal Representative. If the requested appointment is made, we will move forward to guide the Personal Representative through the steps necessary to administer the Estate.

4. Legal Notice

With your assistance, we will compile a list of all interested parties, including the Decedent’s heirs and creditors, and provide notice as required by law.

5. Inventorying Assets

We will provide guidance to help the Personal Representative identify and inventory all assets of the estate. This includes real estate, bank accounts, investments, personal property, and any other assets owned by the Decedent.

6. Paying Debts and Taxes

After legal notice has been perfected and the Estate assets have been inventoried, we will help you allocate estate funds toward any outstanding debts of the Decedent, including expenses of administration, statutory allowances, funeral expenses, medical bills, creditors, and any taxes owed.

7. Distributing Assets to Beneficiaries

After expenses of administration, debts and taxes are paid, the remaining assets of the estate can be distributed to the beneficiaries according to the Decedent's will or Arizona’s intestacy laws if there is no will. If there are disagreements among beneficiaries and heirs, we will work with the Personal Representative to resolve those agreements, if possible.

8. Closing Probate

After all steps of the administration have been completed, we will file documentation to close the case. This typically involves filing documents confirming all necessary steps of administration have been completed, and providing notice to appropriate parties that the estate has been closed.

Legal Disclaimer:

The information provided on this website is for general informational purposes only and is not intended to be legal advice. While we strive to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for professional legal advice. Each legal matter is unique, and the specific facts of any particular case will impact the overall legal procedure and the advice required. Therefore, we recommend that you consult with a qualified legal professional to obtain advice tailored to your individual circumstances.

The Trust Beneficiaries Role In Arizona

Trust beneficiaries are the persons and/or organizations named in the trust to receive the trust assets after the grantor dies. Trust beneficiaries have certain rights, the scope of which depends on the trust and the type of beneficiary you are. Beneficiaries have a right to make sure the trustee is acting properly and that he or she is properly carrying out the terms of the trust.

To the extent provided for in the trust, beneficiaries have the right to:

Receive distributions provided for in the trust.
Be informed about the administration of the trust and of the material facts necessary to protect their interests.
Receive an annual accounting from the trustee or waive an accounting.
Receive a final accounting prior to distribution.
Ask the court to remove a trustee they believe is not acting in their best interests.
Ask the court to end the trust, in some instances, if the purpose of the trust has been fulfilled or is impossible and all current and remainder beneficiaries agree.

Nothing but calming, compassionate, informative, and helpful through the probate process. We are now updating our estate plan and continue to receive their attentiveness and professionalism.

Terry Dobbs

Golden Rule gave us excellent service for an excellent price. Mr. Decker and Justin were knowledgeable and friendly and I'm very glad we went to them.

James Harpole

These lawyers live by the motto of their firm. Their kindness and generosity of spirit gives lawyers the good name that all should strive for.

Tanner Tanner

Attorneys Woods & Decker were professional and compassionate. We were grateful for their quick response and ability to meet with us on short notice. They listened carefully and provided us with sound counsel. We highly recommend their services!

Don Priem

Why Clients Choose Us

Experienced

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Contact An Experienced Trust Administration Attorney

At the Golden Rule Law Group®, our team is dedicated to helping and representing you. You will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours.

Our firm primarily serves the areas of Chandler, Gilbert, Phoenix and other areas around Maricopa County. If you are in need of an experienced probate attorney in Arizona, please contact us today to schedule your free case evaluation.

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Address:
‍601 N Alma School Rd, Chandler, AZ 85224

Phone:
‍(480) 908-9051

Hours:
9am - 5pm

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