Various types of trusts are used in estate planning. Trusts can be created during a person’s lifetime, such as a revocable living trust, a gifting trust, or an insurance trust, or they can be created by Will upon the death of a person.

Trust Administration

Trust administration is the process by which assets are transferred or managed according to the terms of the trust. When the person who creates the trust (the “grantor”) dies or becomes incapacitated, or when a person inherits a trust from a Will, a trustee or successor trustee is appointed, and this trustee assumes certain duties to administer the trust. These may include:

• Taking and maintaining an inventory of trust assets
• Placing assets into the trust
• Managing and investing trust assets
• Valuing and selling trust property
• Paying trust debts and taxes
• Distributing trust assets
• Notifying beneficiaries of the grantor’s death
• Opening a trust bank account
• Obtaining a Tax ID number for the trust
• Collecting money owed to the trust
• Distributing trust assets to beneficiaries

How the Trust Administration Attorneys at Oaks, Hartline & Daly, LLP, Can Help

Administering a trust can be complicated, but Oaks, Hartline & Daly, LLP, can handle much of this process for you. Our trust administration attorneys have decades of experience creating and administering trusts for individuals and families. We can answer your questions and assist you with the trust administration process.

Contact Oaks, Hartline & Daly, LLP, Today

Oaks, Hartline & Daly, LLP, is located in Houston and proudly serves clients throughout Texas. We invite you to contact our law firm for more information and to schedule an appointment to discuss your situation and how we can assist you.