Being named the trustee of a trust means that the Settlor (the person who created the trust) had a significant amount of trust and confidence in you.
However, being a trustee is not easy. Both Maryland and the District of Columbia trust laws require compliance with highly-technical trust codes. Moreover, beneficiaries of the trust may have unrealistic expectations that loom over the trustee. And there can be complicated tax matters associated with trust administration.
The good news is that nearly every trust permits a trustee to use trust resources to hire professionals, including an attorney, to assist in the administration of a trust. Let us help you administer a Maryland or District of Columbia trust.
When serving as trust counsel, we are the liaison between the trustee and the beneficiaries, communicating with beneficiaries on behalf of the trustee, fielding requests for distributions and assisting trustees in considering and responding to requests for distributions. We help trustees understand their rights and obligations in the administration of the trust.
We can quarterback the trust administration process for a trustee client, including coordinating with bankers, insurers, appraisers, accountants, financial planners, and any other professionals who will need to be part of the trust administration process.
If you are a trustee building your team of advisors, call upon Bulman Dunie’s experienced estate attorneys.
