Mesa, AZ 85213
Gunderson, Denton & Peterson has split to focus on our respective areas of practice. For Estate and Immigration law, please call Gunderson Law Group at (480) 750-7337. For Business & Litigation, please call Denton Peterson at 480-325-9900
Trust Estate Administration
Trust Estate Administration (also commonly referred to as Trust Administration) is the process through which a Trustee acts to manage and/or distribute the assets of a trust. Many people believe that because Trust Administration does not necessarily require court oversight, that there are no formal requirements associated with Trust Administration. In reality, while trust administration is often preferred over probate, it still requires careful observation of certain fiduciary duties and statutory obligations.
If you are a trustee of a trust, you owe certain duties to the beneficiaries of that trust. Typically, the trustee is required to take an inventory and generate an accounting of the trust assets and to file an estate tax return. If the trust assets continue to generate income, the Trustee is also required to pay income tax on that income and file income tax returns as needed. The Trustee also has the responsibility to provide notice and accounting records to the trust’s beneficiaries. The Trust agreement itself may also impose certain responsibilities regarding the way the trust assets are to be managed. For example, trustees are often charged with managing and investing certain trust assets while periodically making distributions to trust beneficiaries. Throughout the administration process, it is important to remember that the trustee owes certain fiduciary duties to the beneficiaries of the trust. Some of those duties will be clearly spelled out in the language of the trust agreement itself. Other duties are imposed by state law. These duties include duties of loyalty, duties of care, duties not to engage in self-dealing, and others.
If you are a trustee of a trust, it is important to fully understand all of your responsibilities in administering that trust. The attorneys at Gunderson, Denton & Peterson are experienced in this process and can advise you as you fulfill your role as Trustee. For more information, or to schedule an appointment to meet with one of our attorneys, please contact our firm.
Arizona Business Law
Arizona Business Lawyers
Link about our Arizona Business Lawyers.
Arizona Collections Law
Arizona Collections Lawyer
This link talks about our collection lawyers in Arizona.
Arizona Employment Law
Arizona Employment Lawyer
This link is about our employment lawyers in Arizona.
Arizona Estate Planning
Arizona Estate Planning Lawyer
This link is about our estate planning lawyers in Mesa Arizona.
- Mesa Estate Planning Attorney
This link talks about our estate planning lawyers in Mesa Arizona.
Arizona Franchise Law
Arizona Franchise Attorney
This link is about our Arizona Franchise Attorneys.
Arizona Immigration Law
Arizona Immigration Attorney
This link is about our immigration attorneys in Mesa Arizona.
- Arizona Visa Lawyer
This link is regarding our Arizona Visa Lawyers.
- EB-5 Immigration Visa
This page talks about EB-5 immigration visas.
- Investor Visa
This page talks about investor visas by our immigration lawyers in Mesa.
- Mesa Arizona Immigration Lawyer
This link is regarding our immigration attorneys in Mesa.
Arizona Litigation Matters
- Arizona litigation lawyers
This link is about our litigation lawyers in Mesa Arizona.
- Mesa Litigation Attorney
This link talks about out litigation lawyer in Mesa Arizona.
Arizona Probate Law
Arizona Probate Lawyers
This link is about our Arizona probate lawyers.
Arizona Real Estate Law
Arizona Real Estate Lawyers
This link is about our real estate lawyers in Mesa Arizona.
- Phoenix Real Estate Lawyer
This link is about our knowledgeable real estate attorneys in Phoenix, Arizona.
Mesa, AZ 85213